Market manipulation enforcement actions filed in 2025

This library records 120 market manipulation enforcement actions filed in 2025, brought by ASIC, CFTC, FCA, OSC, SEC.

Counts by year reflect when an action was filed or announced, not when the underlying conduct occurred — those are often years apart. Compare across years with care: a single multi-defendant sweep can dominate a year's count.

Actions: 100
Total penalties: $6bn
Median penalty: $236k
Largest: $5.9bn
Criminal parallel: 43%

Action	Agency	Filed	Technique	Penalty	Status
SEC v. David J. Bradford and Gerardo L. Linarducci (ponzi schemes, 2025)	SEC	2025-12-30	Ponzi Schemes	—	judgment
SEC v. Bryan Scott McMillan (insider trading, 2025)	SEC	2025-12-23	Insider Trading	$122k	judgment
SEC v. David Hudzik (unregistered distributions, 2025)	SEC	2025-12-23	Unregistered Distributions	$70k	judgment
Market riggers sentenced in ASX ‘pump and dump’ case (ASIC, 2025)	ASIC	2025-12-22	Chat Group Pumps , Pump And Dump	—	unknown
FCA v. Russel Gerrity (insider trading, 2025)	FCA	2025-12-19	Insider Trading	—	unknown
SEC v. George John Drazenovic (paid stock promotion, 2025)	SEC	2025-12-19	Paid Stock Promotion , Pump And Dump	—	judgment
SEC v. Mina Tadrus (ponzi schemes, 2025)	SEC	2025-12-17	Ponzi Schemes	—	judgment
OSC v. Ontario Securities Commission v and Claire Amanda Drage (paid stock promotion, 2025)	OSC	2025-12-17	Paid Stock Promotion	—	judgment
SEC v. Artur Khachatryan (spoofing, 2025)	SEC	2025-12-16	Spoofing	—	judgment
Victorian man sentenced in market manipulation case (ASIC, 2025)	ASIC	2025-12-12	Insider Trading , Price Manipulation +1	—	judgment
SEC v. Andrew Scott Corbman (paid stock promotion, 2025)	SEC	2025-12-03	Paid Stock Promotion	—	judgment
SEC v. Virtu Financial, Inc. and Virtu Americas LLC (insider trading, 2025)	SEC	2025-12-03	Insider Trading	$2.5m	judgment
SEC v. Solomon Lichtenstein (ponzi schemes, 2025)	SEC	2025-11-26	Ponzi Schemes	—	filed
SEC v. M Holdings Securities, Inc. (spoofing, 2025)	SEC	2025-11-25	Spoofing	—	settled
SEC v. Linh Thuy Le and Trong Hoang Luu (ponzi schemes, 2025)	SEC	2025-11-19	Ponzi Schemes	—	filed
SEC v. Marco G. Santarelli (ponzi schemes, 2025)	SEC	2025-11-19	Ponzi Schemes	—	judgment
SEC v. Anthony Viggiano, CPA (insider trading, 2025)	SEC	2025-11-18	Insider Trading	—	judgment
SEC v. Cyrus P. Naderi (free riding and parking, 2025)	SEC	2025-11-18	Free Riding And Parking	$40k	judgment
OSC v. Ontario Securities Commission v Jessica Tam (insider trading, 2025)	OSC	2025-10-22	Insider Trading	—	judgment
FCA v. Neil Sedgwick Dwane (insider trading, 2025)	FCA	2025-10-13	Insider Trading	—	unknown
Victorian man sentenced in Cann Group insider trading case (ASIC, 2025)	ASIC	2025-10-06	Insider Trading	—	unknown
SEC v. Agridime, LLC, Jed Wood, and Joshua Link (ponzi schemes, 2025)	SEC	2025-09-30	Ponzi Schemes	$236k	judgment
SEC v. Taino Adrian Lopez, Alexander Farhang Mehr, and Maya Rose Burkenroad (ponzi schemes, 2025)	SEC	2025-09-25	Ponzi Schemes	—	filed
SEC v. Arthur P. Pizzello. Jr. and Robert Quattrocchi (insider trading, 2025)	SEC	2025-09-23	Insider Trading	—	judgment
OSC v. Ontario Securities Commission v Huy Le Huynh and Thi Anh Nguyet Pham (insider trading, 2025)	OSC	2025-09-23	Insider Trading	—	unknown
SEC v. Aaron O'Brian Freeman (free riding and parking, 2025)	SEC	2025-09-22	Free Riding And Parking	—	filed
SEC v. Pathyam Patel (ponzi schemes, 2025)	SEC	2025-09-22	Ponzi Schemes	—	judgment
CFTC v. Shinhan Securities Co. Ltd. (wash trading, 2025)	CFTC	2025-09-17	Wash Trading	$213k	judgment
SEC v. Justin R. Kimbrough and Prosperity Consultants, LLC (ponzi schemes, 2025)	SEC	2025-09-17	Ponzi Schemes	—	judgment
Melbourne man sentenced in Kidman Resources insider trading case (ASIC, 2025)	ASIC	2025-09-15	Insider Trading	—	unknown
SEC v. Allen C. Giltman (spoofing, 2025)	SEC	2025-09-12	Spoofing	—	judgment
CFTC v. Brett Falloon (spoofing, 2025)	CFTC	2025-09-09	Spoofing	$200k	judgment
SEC v. Henry Paul Regan, Jr. (ponzi schemes, 2025)	SEC	2025-09-09	Ponzi Schemes	—	filed
SEC v. Arsalan Rawjani and others (ponzi schemes, 2025)	SEC	2025-09-08	Ponzi Schemes	—	unknown
SEC v. Austin D. Ellison-Meade (ponzi schemes, 2025)	SEC	2025-09-05	Ponzi Schemes	—	judgment
SEC v. Calvin Guess and others (ponzi schemes, 2025)	SEC	2025-09-05	Ponzi Schemes	$236k	judgment
SEC v. FibroGen, Inc. (paid stock promotion, 2025)	SEC	2025-09-05	Paid Stock Promotion	—	settled
SEC v. Ryan Squillante (insider trading, 2025)	SEC	2025-09-05	Insider Trading	—	settled
SEC v. Daryl F. Heller and others (ponzi schemes, 2025)	SEC	2025-09-03	Ponzi Schemes	—	filed
SEC v. David J. Minson (insider trading, 2025)	SEC	2025-08-22	Insider Trading	—	settled
SEC v. Rouzbeh “Ross” Haghighat and others (insider trading, 2025)	SEC	2025-08-22	Insider Trading	—	filed
SEC v. Justin Chen and Jun Zhen (insider trading, 2025)	SEC	2025-08-21	Insider Trading	—	judgment
SEC v. Stock Purse Trading LLC and others (ponzi schemes, 2025)	SEC	2025-08-21	Ponzi Schemes	—	settled
SEC v. Brent Cranmer and others (insider trading, 2025)	SEC	2025-08-18	Insider Trading	—	unknown
SEC v. Robert Alan Yedid, Andrew Kaufman, Mark Jacobs (insider trading, 2025)	SEC	2025-08-18	Insider Trading	—	settled
SEC v. Wendy Swensen (ponzi schemes, 2025)	SEC	2025-08-18	Ponzi Schemes	—	judgment
SEC v. Ryan R. Wear and others (ponzi schemes, 2025)	SEC	2025-08-15	Ponzi Schemes	—	filed
Charges laid in Platinum Asset Management insider trading case (ASIC, 2025)	ASIC	2025-08-12	Insider Trading	—	filed
SEC v. Bruce Cameron Conway (insider trading, 2025)	SEC	2025-08-11	Insider Trading	—	unknown
SEC v. Ryan N. Cole (spoofing, 2025)	SEC	2025-08-11	Spoofing	—	judgment
SEC v. Doron A. Tavlin, Afshin Farahan, and David Gantman (insider trading, 2025)	SEC	2025-08-06	Insider Trading	—	judgment
SEC v. Anthony Finale (insider trading, 2025)	SEC	2025-08-01	Insider Trading	—	settled
SEC v. Vincent Barbuto (insider trading, 2025)	SEC	2025-08-01	Insider Trading	$19.9k	settled
SEC v. Dishant Gupta (insider trading, 2025)	SEC	2025-07-30	Insider Trading	—	judgment
SEC v. Jose D. Rocha (ponzi schemes, 2025)	SEC	2025-07-30	Ponzi Schemes	—	judgment
FCA v. Jean-Noël Yves Alba (chat group pumps, 2025)	FCA	2025-07-22	Chat Group Pumps	—	unknown
SEC v. Brian M. Kashman (insider trading, 2025)	SEC	2025-07-22	Insider Trading	—	judgment
SEC v. Edwin Brant Frost IV and First Liberty Building & Loan LLC (ponzi schemes, 2025)	SEC	2025-07-22	Ponzi Schemes	—	settled
SEC v. Edwin Emmett Lickiss, Jr. (ponzi schemes, 2025)	SEC	2025-07-22	Ponzi Schemes	—	filed
SEC v. Robert Brian Thompson (insider trading, 2025)	SEC	2025-07-21	Insider Trading	—	judgment
SEC v. Suyun Gu, et al. (wash trading, 2025)	SEC	2025-07-21	Wash Trading	—	judgment
SEC v. Eric J. Watson (insider trading, 2025)	SEC	2025-07-15	Insider Trading	—	dismissed
SEC v. Diana Mae Fernandez (paid stock promotion, 2025)	SEC	2025-07-11	Paid Stock Promotion , Ponzi Schemes	—	judgment
SEC v. Trijya Vakil and Neeraj Visen (insider trading, 2025)	SEC	2025-07-11	Insider Trading	—	judgment
SEC v. William A. Justice, Keith A. Rosenbaum, Brian D. Shibley, and Randell R. Torno (pump and dump, 2025)	SEC	2025-07-10	Pump And Dump	—	judgment
SEC v. Eduardo Hernandez (free riding and parking, 2025)	SEC	2025-07-03	Free Riding And Parking	—	judgment
ASIC v. Delta Power (price manipulation, 2025)	ASIC	2025-06-30	Price Manipulation	—	unknown
SEC v. Benjamin Ballout and Mohamed Zayed (pump and dump, 2025)	SEC	2025-06-20	Pump And Dump	$461k	judgment
SEC v. Ongkaruck Sripetch, et al. (pump and dump, 2025)	SEC	2025-06-20	Pump And Dump , Unregistered Distributions	—	dismissed
SEC v. Peter Scalise III and The3rdBevco Inc. (unregistered distributions, 2025)	SEC	2025-06-17	Unregistered Distributions	$236k	judgment
CFTC v. Agridime LLC (ponzi schemes, 2025)	CFTC	2025-06-16	Ponzi Schemes	$100m	judgment
ASIC secures guilty pleas in Telegram ‘pump and dump’ action (2025)	ASIC	2025-06-10	Chat Group Pumps , Pump And Dump	—	unknown
SEC v. Jack Brewer (insider trading, 2025)	SEC	2025-06-10	Insider Trading	—	filed
SEC v. Medallion Financial Corp., Andrew Murstein, Lawrence Meyers, and Ichabod’s Cranium, Inc. (paid stock promotion, 2025)	SEC	2025-06-06	Paid Stock Promotion	$3m	judgment
SEC v. Kronus Financial Corporation, Finser International Corporation, Andrew H. Jacobus (ponzi schemes, 2025)	SEC	2025-05-29	Ponzi Schemes	—	filed
SEC v. Christopher Aubin and others (ponzi schemes, 2025)	SEC	2025-05-27	Ponzi Schemes	—	filed
SEC v. Joel J. Natario and Jefferson Scott Baker (ponzi schemes, 2025)	SEC	2025-05-23	Ponzi Schemes	—	unknown
SEC v. Kenneth Mattson and Relief Defendant KS Mattson Partners LP (ponzi schemes, 2025)	SEC	2025-05-23	Ponzi Schemes	—	filed
ASIC v. Darryl Mapleson (insider trading, 2025)	ASIC	2025-05-16	Insider Trading	—	unknown
SEC v. Kenneth W. Alexander II and others (ponzi schemes, 2025)	SEC	2025-05-02	Ponzi Schemes	—	filed
SEC v. Jenni Yoon Jeong Lee (a/k/a Jenni Lee Or Yoon Jeong Lee) and Evergreen Property Developments LLC (ponzi schemes, 2025)	SEC	2025-04-30	Ponzi Schemes	—	unknown
SEC v. Ramil Ventura Palafox (ponzi schemes, 2025)	SEC	2025-04-29	Ponzi Schemes	—	filed
SEC v. Marshall E. Melton and Integrated Consulting & Management, LLC (paid stock promotion, 2025)	SEC	2025-04-24	Paid Stock Promotion	—	unknown
SEC v. Saeid Jaberian (pump and dump, 2025)	SEC	2025-04-17	Pump And Dump	—	unknown
SEC v. Milan V. Patel (false rumors, 2025)	SEC	2025-04-11	False Rumors	—	judgment
SEC v. Emergent BioSolutions, Inc. (paid stock promotion, 2025)	SEC	2025-04-07	Paid Stock Promotion	—	settled
OSC v. Ontario Securities Commission v Blockratize Inc. and Adventure One QSS Inc. (chat group pumps, 2025)	OSC	2025-04-01	Chat Group Pumps	—	judgment
Victorian man charged over alleged market manipulation (ASIC, 2025)	ASIC	2025-03-14	Price Manipulation , Wash Trading	—	filed
SEC v. Eamma Safi and Zhi Ge a/k/a Josh Ge (insider trading, 2025)	SEC	2025-03-14	Insider Trading	—	unknown
SEC v. Ronald Pallek (ponzi schemes, 2025)	SEC	2025-03-11	Ponzi Schemes	—	filed
SEC v. George N. Demos (insider trading, 2025)	SEC	2025-03-10	Insider Trading	—	settled
Antonio Stella indicted on insider trading charges (ASIC, 2025)	ASIC	2025-03-06	Insider Trading	—	unknown
SEC v. Rey D. Acosta (free riding and parking, 2025)	SEC	2025-03-06	Free Riding And Parking	$15k	judgment
SEC v. Jeffrey Suchecki (insider trading, 2025)	SEC	2025-03-04	Insider Trading	$64.6k	settled
SEC v. Robert Allen Stanford and others (ponzi schemes, 2025)	SEC	2025-02-24	Ponzi Schemes	$5.9bn	judgment
SEC v. Thurman P. Bryant, III and others (ponzi schemes, 2025)	SEC	2025-02-20	Ponzi Schemes	—	judgment
SEC v. Charlie Jinan Chen (insider trading, 2025)	SEC	2025-02-13	Insider Trading	—	judgment
CFTC v. Rashawn Russell (ponzi schemes, 2025)	CFTC	2025-02-10	Ponzi Schemes	$1.5m	judgment
SEC v. Anthony Marsico and others (insider trading, 2025)	SEC	2025-02-10	Insider Trading	—	settled
SEC v. Airborne Wireless Network and others (pump and dump, 2025)	SEC	2025-02-07	Pump And Dump , Undisclosed Control Blocks	—	judgment