Market Manipulation. Search

Market manipulation case library

This library records 2,117 market manipulation enforcement actions brought by financial regulators, each with the agency, the date, the alleged technique, the monetary relief ordered and a link to the regulator's own filing. The whole dataset is downloadable as JSON.

Actions
2,117
Total penalties
$15.4bn
Median penalty
$258k
Agencies
2
Techniques
36

Browse by facet

Every facet below is a real page with its own URL, so it works without JavaScript and can be linked, bookmarked and cited.

By technique

Insider trading 608 Ponzi schemes 532 Paid stock promotion 219 Unregistered distributions 136 Pump and dump 121 Undisclosed control blocks 119 Spoofing 114 Wash trading 90 Price manipulation 72 Boiler rooms 71 Reverse merger schemes 66 The naked short selling debate 41 Benchmark submission rigging 32 Matched orders 24 Churning 19 Free riding and parking 18 Fake press releases 16 Layering 15 Newsletter scalping 15 Marking the close 10 Cash versus derivatives schemes 10 Front running 9 Shell factories 8 Chat group pumps 6 False rumours 5 Custodianship shell hijacking 5 Settlement price manipulation 4 Exchange wash trading 3 Banging the close 3 FX fixing 3 Engineered short squeeze 2 Marking the open 1 Rug pulls 1 Insider listing trading 1 Oracle manipulation 1 Float locking 1

By agency

CFTC 349 SEC 1768

By year filed

2026 85 2025 103 2024 182 2023 202 2022 174 2021 142 2020 178 2019 181 2018 221 2017 210 2016 179 2015 205 2014 27 2013 28

Ranked lists: largest penalties · largest spoofing penalties · longest sentences · most-charged individuals · biggest crypto cases · most active courts

All actions, newest first

Action Agency Filed Technique Penalty Status
SEC v. Emerald Isle Exploration, Ltd. and Samuell Eads and Lloyd C. Brewer (insider trading, 2017) SEC 2017-05-12 Insider Trading , Undisclosed Control Blocks $10k settled
SEC v. Chamroonrat, et al. (ponzi schemes, 2017) SEC 2017-05-11 Ponzi Schemes — filed
SEC v. Walter C. Little and Andrew M. Berke (insider trading, 2017) SEC 2017-05-11 Insider Trading — filed
SEC v. Andrew T.E. Coldicutt, et al. (unregistered distributions, 2017) SEC 2017-05-05 Unregistered Distributions — unknown
SEC v. William R. Schantz III and Verto Capital Management LLC (ponzi schemes, 2017) SEC 2017-05-04 Ponzi Schemes — settled
SEC v. David Michael Burke (undisclosed control blocks, 2017) SEC 2017-05-02 Unregistered Distributions — settled
SEC v. Mark J. Varacchi, et al. (ponzi schemes, 2017) SEC 2017-05-01 Ponzi Schemes — judgment
SEC v. Wensheng Lin and Sheng Li Chen (paid stock promotion, 2017) SEC 2017-05-01 Paid Stock Promotion — filed
SEC v. Demitrios Hallas (churning, 2017) SEC 2017-04-26 Churning — filed
SEC v. Wilson-Davis & Company, Inc. (naked short selling debate, 2017) SEC 2017-04-26 Naked Short Selling Debate $75k settled
SEC v. Kent P. Watts, et al. (unregistered distributions, 2017) SEC 2017-04-21 Unregistered Distributions — filed
SEC v. Justin D. Meadlin and Hyaline Capital Management, LLC (paid stock promotion, 2017) SEC 2017-04-17 Paid Stock Promotion — filed
SEC v. Christopher R. Esposito, et al. (paid stock promotion, 2017) SEC 2017-04-14 Paid Stock Promotion $775k judgment
SEC v. Mustafa David Sayid (pump and dump, 2017) SEC 2017-04-13 Pump And Dump — filed
SEC v. Ryan Gilbertson, et al. (reverse merger schemes, 2017) SEC 2017-04-13 Reverse Merger Schemes — judgment
SEC v. Lidingo Holdings, LLC, et al., CSIR Group, LLC, et al. (paid stock promotion, 2017) SEC 2017-04-12 Paid Stock Promotion — settled
SEC v. Christopher French (paid stock promotion, 2017) SEC 2017-04-10 Paid Stock Promotion — settled
SEC v. Ciaran Thornton (paid stock promotion, 2017) SEC 2017-04-10 Paid Stock Promotion — settled
SEC v. Craig Keolanui (paid stock promotion, 2017) SEC 2017-04-10 Paid Stock Promotion — settled
SEC v. Edward Borrelli and Dunedin, Inc. (paid stock promotion, 2017) SEC 2017-04-10 Paid Stock Promotion — settled
SEC v. Galena Biopharma, Inc. and Mark J. Ahn (paid stock promotion, 2017) SEC 2017-04-10 Paid Stock Promotion , Unregistered Distributions — settled
SEC v. ImmunoCellular Therapeutics, Ltd. (paid stock promotion, 2017) SEC 2017-04-10 Paid Stock Promotion — settled
SEC v. Joel Corenman (paid stock promotion, 2017) SEC 2017-04-10 Paid Stock Promotion — settled
SEC v. Lion Biotechnologies, Inc. (paid stock promotion, 2017) SEC 2017-04-10 Paid Stock Promotion — settled
SEC v. Michael A. McCarthy (paid stock promotion, 2017) SEC 2017-04-10 Paid Stock Promotion — settled
SEC v. Stephen Ramey (paid stock promotion, 2017) SEC 2017-04-10 Paid Stock Promotion $24k settled
SEC v. Lawrence F. Cluff, Jr. and Roger E. Shaoul (insider trading, 2017) SEC 2017-04-06 Insider Trading — judgment
SEC v. Vlad B. Spivak, et al. (insider trading, 2017) SEC 2017-04-03 Insider Trading — judgment
CFTC v. Former Citigroup Global Markets Inc. Traders Stephen Gola and Jonathan Brims (cash vs derivatives schemes, 2017) CFTC 2017-03-31 Cash Vs Derivatives Schemes , Spoofing $350k judgment
SEC v. Alison, LLC Alison and Stephen D. (undisclosed control blocks, 2017) SEC 2017-03-29 Undisclosed Control Blocks — settled
SEC v. LottoNet Operating Corp., et al. (boiler rooms, 2017) SEC 2017-03-27 Boiler Rooms — filed
SEC v. Ariel Darvasi and Amir Waldman (insider trading, 2017) SEC 2017-03-24 Insider Trading — judgment
SEC v. Nino Coppero del Valle et al. (insider trading, 2017) SEC 2017-03-24 Insider Trading — judgment
SEC v. Quigley and William (churning, 2017) SEC 2017-03-24 Churning — settled
SEC v. Christopher Ludwig (insider trading, 2017) SEC 2017-03-23 Insider Trading — judgment
SEC v. Rose and Sheldon MKJJ Consulting LLC (reverse merger schemes, 2017) SEC 2017-03-23 Reverse Merger Schemes , Undisclosed Control Blocks — settled
SEC v. Steven A. Hartung (insider trading, 2017) SEC 2017-03-23 Insider Trading — settled
SEC v. Michael J. Maciocio and David P. Hobson (insider trading, 2017) SEC 2017-03-20 Insider Trading — judgment
SEC v. Patrick Churchville, et al. (ponzi schemes, 2017) SEC 2017-03-17 Ponzi Schemes — filed
SEC v. Todd David Alpert (insider trading, 2017) SEC 2017-03-15 Insider Trading — filed
SEC v. Nima Hedayati (insider trading, 2017) SEC 2017-03-14 Insider Trading — settled
SEC v. Lek Securities Corporation, et al. (layering, 2017) SEC 2017-03-10 Layering — unknown
SEC v. Notis Global, Inc. (f/k/a Medbox, Inc.), et al. (paid stock promotion, 2017) SEC 2017-03-09 Paid Stock Promotion $6m judgment
SEC v. Arcturus Corporation, et al. (unregistered distributions, 2017) SEC 2017-03-03 Unregistered Distributions — judgment
SEC v. Thomas D. Melvin, Jr., et al. (insider trading, 2017) SEC 2017-03-03 Insider Trading — filed
SEC v. One or More Unknown Traders in the Securities of Fortress Investment Group, LLC (insider trading, 2017) SEC 2017-02-28 Insider Trading — judgment
SEC v. FX & Beyond Corporation et al. (ponzi schemes, 2017) SEC 2017-02-21 Ponzi Schemes — judgment
SEC v. Patrick O. Howard, et al. (ponzi schemes, 2017) SEC 2017-02-16 Ponzi Schemes — unknown
CFTC v. Carlos Javier Ramirez and His Companies (ponzi schemes, 2017) CFTC 2017-02-15 Ponzi Schemes — filed
SEC v. Sidoti & Company, LLC (insider trading, 2017) SEC 2017-02-13 Insider Trading — settled
SEC v. Yu-Cheng Lin (a.k.a. Believe Lin) (insider trading, 2017) SEC 2017-02-13 Insider Trading — judgment
SEC v. Alan Barry Staples (insider trading, 2017) SEC 2017-02-10 Insider Trading $15.2k judgment
SEC v. Shaohua (Michael) Yin, et al. (insider trading, 2017) SEC 2017-02-10 Insider Trading — judgment
SEC v. Raymond H. Barton (fake press releases, 2017) SEC 2017-02-09 Fake Press Releases — judgment
SEC v. William G. Goode (unregistered distributions, 2017) SEC 2017-02-09 Unregistered Distributions — judgment
SEC v. Oxford City Football Club, Inc. (boiler rooms, 2017) SEC 2017-02-08 Boiler Rooms — judgment
SEC v. Oxford City Football Club, Inc., et al. (boiler rooms, 2017) SEC 2017-02-08 Boiler Rooms — judgment
SEC v. Michael Affa, et al. (pump and dump, 2017) SEC 2017-02-07 Pump And Dump — judgment
SEC v. Olde Monmouth Stock Transfer Co., Inc. and Matthew J. Troster (reverse merger schemes, 2017) SEC 2017-02-07 Reverse Merger Schemes , Unregistered Distributions $100k judgment
CFTC v. The Royal Bank of Scotland (benchmark submission rigging, 2017) CFTC 2017-02-04 Benchmark Submission Rigging , Price Manipulation $85m judgment
SEC v. Varacchi, et al. (ponzi schemes, 2017) SEC 2017-02-02 Ponzi Schemes — filed
CFTC v. Florida Residents Anthony J. Klatch II and Lindsey Heim (ponzi schemes, 2017) CFTC 2017-01-27 Ponzi Schemes — judgment
SEC v. Herman Ronnie Young, Jr. d/b/a Race Cycler (ponzi schemes, 2017) SEC 2017-01-27 Ponzi Schemes — judgment
SEC v. Black and Hans Peter Interinvest Corporation, Inc. (undisclosed control blocks, 2017) SEC 2017-01-24 Undisclosed Control Blocks — judgment
SEC v. Donald P. Jones, CPA (insider trading, 2017) SEC 2017-01-23 Insider Trading $39.1k settled
SEC v. George N. Krinos (unregistered distributions, 2017) SEC 2017-01-23 Unregistered Distributions — filed
SEC v. Shelly R. McGuire, CPA (insider trading, 2017) SEC 2017-01-23 Insider Trading — settled
CFTC v. unnamed respondents (spoofing, 2017) CFTC 2017-01-19 Spoofing — unknown
CFTC v. Citigroup Global Markets Inc. (cash vs derivatives schemes, 2017) CFTC 2017-01-19 Cash Vs Derivatives Schemes , Spoofing $25m judgment
SEC v. Cort Poyner et al. (paid stock promotion, 2017) SEC 2017-01-19 Paid Stock Promotion — judgment
SEC v. Charles A. Bennett (ponzi schemes, 2017) SEC 2017-01-18 Ponzi Schemes — unknown
SEC v. Eytan Bar (insider trading, 2017) SEC 2017-01-18 Insider Trading — settled
SEC v. MDC Partners Inc. (insider trading, 2017) SEC 2017-01-18 Insider Trading — settled
SEC v. Orthofix International N.V.; Jeffrey Hammel and CPA; Brian McCollum; Kenneth Mack and Bryan McMillan (naked short selling debate, 2017) SEC 2017-01-18 Naked Short Selling Debate $40k settled
SEC v. Robin G. Charlet, Steven W. Sparks, Gregory J. Tuthill and Kirk D. Porter (unregistered distributions, 2017) SEC 2017-01-13 Unregistered Distributions $25k judgment
SEC v. Gregory W. Gray, Jr., et al. (ponzi schemes, 2017) SEC 2017-01-12 Ponzi Schemes — judgment
SEC v. ITG Inc. (naked short selling debate, 2017) SEC 2017-01-12 Naked Short Selling Debate — settled
SEC v. Douglas Furth (matched orders, 2017) SEC 2017-01-10 Matched Orders — judgment
CFTC v. Goldman Sachs (benchmark submission rigging, 2016) CFTC 2016-12-22 Benchmark Submission Rigging , Price Manipulation $120m judgment
SEC v. Chamroonrat, et al. (ponzi schemes, 2016) SEC 2016-12-22 Ponzi Schemes — filed
CFTC v. Defendants Igor B. Oystacher (spoofing, 2016) CFTC 2016-12-21 Spoofing $2.5m judgment
SEC v. Edward F. Panos, et al. (shell factories, 2016) SEC 2016-12-20 Shell Factories , Undisclosed Control Blocks — judgment
SEC v. Morgan Stanley & Co. LLC (benchmark submission rigging, 2016) SEC 2016-12-20 Benchmark Submission Rigging — settled
SEC v. Anthony B. Kerrigone (naked short selling debate, 2016) SEC 2016-12-16 Naked Short Selling Debate $50k settled
SEC v. Byron B. Barkley and Paul N. Davis (naked short selling debate, 2016) SEC 2016-12-16 Naked Short Selling Debate $50k settled
SEC v. Empire Stock Transfer, Inc. and Matthew J. Blevins (paid stock promotion, 2016) SEC 2016-12-16 Paid Stock Promotion , Unregistered Distributions $50k settled
SEC v. Jo Ann Myers and Hollis W. Pickett, Jr. (insider trading, 2016) SEC 2016-12-16 Insider Trading $40.4k settled
SEC v. Michael J. Muellerleile, Esq. and M2 Law Professional Corp. (reverse merger schemes, 2016) SEC 2016-12-16 Reverse Merger Schemes $70k settled
SEC v. Wilson-Davis & Company, Inc. (naked short selling debate, 2016) SEC 2016-12-16 Naked Short Selling Debate — unknown
CFTC v. unnamed respondents (wash trading, 2016) CFTC 2016-12-15 Wash Trading $1.2m filed
SEC v. Marc Winters (insider trading, 2016) SEC 2016-12-02 Insider Trading — settled
CFTC v. Former CBOE Member Alvin (ponzi schemes, 2016) CFTC 2016-12-01 Ponzi Schemes $12.4m judgment
SEC v. Blackbird Capital Partners, LLC, et al. (ponzi schemes, 2016) SEC 2016-11-30 Ponzi Schemes — unknown
SEC v. Neman and Shervin Neman Financial, Inc. (ponzi schemes, 2016) SEC 2016-11-29 Ponzi Schemes — judgment
SEC v. Dennis Ira Ringer (unregistered distributions, 2016) SEC 2016-11-23 Unregistered Distributions $25k settled
CFTC v. unnamed respondents (spoofing, 2016) CFTC 2016-11-22 Spoofing , Wash Trading — unknown
SEC v. Capital Financial Partners, LLC et al. and others (ponzi schemes, 2016) SEC 2016-11-22 Ponzi Schemes — unknown
SEC v. Gary R. Purwin, CPA (ponzi schemes, 2016) SEC 2016-11-21 Ponzi Schemes $20k settled
CFTC v. Navinder Singh Sarao (layering, 2016) CFTC 2016-11-18 Layering , Price Manipulation +1 $38m judgment
SEC v. Sanjay Valvani and Gordon Johnston (insider trading, 2016) SEC 2016-11-14 Insider Trading — settled