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
CFTC v. North Carolina Resident Barry C. Taylor and His Companies (ponzi schemes, 2015) CFTC 2015-05-01 Ponzi Schemes — filed
SEC v. Xiaoyu Xia and Yanting Hu (insider trading, 2015) SEC 2015-04-29 Insider Trading — judgment
SEC v. Frank Perkins Hixon, Jr., et al. (insider trading, 2015) SEC 2015-04-28 Insider Trading — judgment
CFTC v. of Manipulation (benchmark submission rigging, 2015) CFTC 2015-04-24 Benchmark Submission Rigging , FX Fixing +1 $800m judgment
SEC v. Veros Partners, Inc., et al. (ponzi schemes, 2015) SEC 2015-04-24 Ponzi Schemes — filed
SEC v. Houston American Energy Corp. Terwilliger and others (paid stock promotion, 2015) SEC 2015-04-23 Paid Stock Promotion $22.5k settled
SEC v. Tracy Morgan Spaeth (unregistered distributions, 2015) SEC 2015-04-23 Unregistered Distributions — settled
CFTC v. U.K. Resident Navinder Singh Sarao and His Company Nav Sarao Futures Limited PLC (layering, 2015) CFTC 2015-04-22 Layering , Price Manipulation +1 — judgment
CFTC v. Florida Resident Dorian A. Garcia and his Companies (ponzi schemes, 2015) CFTC 2015-04-21 Ponzi Schemes — filed
SEC v. Joseph John Labadia (undisclosed control blocks, 2015) SEC 2015-04-17 Unregistered Distributions — settled
SEC v. Schalk and Russell C., Jr. (undisclosed control blocks, 2015) SEC 2015-04-17 Undisclosed Control Blocks $1.6m settled
SEC v. Daniel P. McKelvey, et al. (pump and dump, 2015) SEC 2015-04-16 Pump And Dump , Reverse Merger Schemes — settled
SEC v. eCareer Holdings, Inc., eCareer, Inc., Joseph J. Azzata, Dean A. Esposito, Joseph DeVito, and Frederick J. Birks, et al. (boiler rooms, 2015) SEC 2015-04-16 Boiler Rooms — unknown
SEC v. Edward T. Farmer (undisclosed control blocks, 2015) SEC 2015-04-16 Undisclosed Control Blocks — settled
SEC v. Kevin D. Miller (undisclosed control blocks, 2015) SEC 2015-04-16 Undisclosed Control Blocks — settled
SEC v. Ronald A. Warren (undisclosed control blocks, 2015) SEC 2015-04-16 Undisclosed Control Blocks — settled
SEC v. William J. Gaffney (undisclosed control blocks, 2015) SEC 2015-04-16 Undisclosed Control Blocks — settled
SEC v. James A. Evans, Jr., d/b/a Cashflowbot.com, d/b/a DollarMonster (ponzi schemes, 2015) SEC 2015-04-13 Ponzi Schemes — unknown
SEC v. Mieka Energy Corporation, et al. (paid stock promotion, 2015) SEC 2015-04-10 Paid Stock Promotion — filed
SEC v. Capital Financial Partners, LLC et al. (ponzi schemes, 2015) SEC 2015-04-07 Ponzi Schemes — unknown
SEC v. Team Resources, Inc., et al. (unregistered distributions, 2015) SEC 2015-04-06 Unregistered Distributions — settled
CFTC v. Kraft Foods Group (price manipulation, 2015) CFTC 2015-04-02 Price Manipulation — unknown
SEC v. David Craven et al. (pump and dump, 2015) SEC 2015-04-01 Pump And Dump , Wash Trading — filed
CFTC v. Daniel Shak (price manipulation, 2015) CFTC 2015-03-31 Price Manipulation $100k judgment
SEC v. Gregory W. Gray, Jr., et al. (ponzi schemes, 2015) SEC 2015-03-27 Ponzi Schemes — filed
SEC v. Anthony J. Ciabattoni (undisclosed control blocks, 2015) SEC 2015-03-13 Undisclosed Control Blocks — settled
SEC v. Berjaya Lottery Management (H.K.) Ltd. (undisclosed control blocks, 2015) SEC 2015-03-13 Undisclosed Control Blocks — settled
SEC v. Brian Potiker (undisclosed control blocks, 2015) SEC 2015-03-13 Undisclosed Control Blocks — settled
SEC v. Jane G. Ciabattoni (undisclosed control blocks, 2015) SEC 2015-03-13 Undisclosed Control Blocks — settled
SEC v. Shuipan Lin (undisclosed control blocks, 2015) SEC 2015-03-13 Undisclosed Control Blocks — settled
SEC v. SMP Investments I, LLC (undisclosed control blocks, 2015) SEC 2015-03-13 Undisclosed Control Blocks — settled
SEC v. The Ciabattoni Living Trust Dated August 17 and 2000 (undisclosed control blocks, 2015) SEC 2015-03-13 Undisclosed Control Blocks — settled
SEC v. William A. Houlihan (undisclosed control blocks, 2015) SEC 2015-03-13 Undisclosed Control Blocks — settled
SEC v. Bonan Huang and Nan Huang (insider trading, 2015) SEC 2015-03-10 Insider Trading — judgment
SEC v. Zeringue, et al. (insider trading, 2015) SEC 2015-03-06 Insider Trading — settled
SEC v. Gary Eugene Patterson, Esq. (undisclosed control blocks, 2015) SEC 2015-03-03 Undisclosed Control Blocks — settled
SEC v. Gary S. Williky (insider trading, 2015) SEC 2015-03-02 Insider Trading , Newsletter Scalping +3 — settled
SEC v. Joseph A. Noel (pump and dump, 2015) SEC 2015-02-26 Pump And Dump — judgment
SEC v. Mark A. Lefkowitz, et al. (unregistered distributions, 2015) SEC 2015-02-24 Unregistered Distributions — judgment
SEC v. John A. Geringer (paid stock promotion, 2015) SEC 2015-02-23 Paid Stock Promotion , Ponzi Schemes — judgment
SEC v. Scott Zeringue and Jesse Roberts, III (insider trading, 2015) SEC 2015-02-19 Insider Trading $64k judgment
SEC v. Kristine L. Johnson, Troy A. Barnes, Work with Troy Barnes, Inc. (d/b/a) The Achieve Community, Defendants, and Achieve International, LLC, Relief Defendant (ponzi schemes, 2015) SEC 2015-02-18 Ponzi Schemes — unknown
SEC v. Steven B. Hart (insider trading, 2015) SEC 2015-02-18 Insider Trading — settled
SEC v. Caledonian Bank Ltd., et al. (unregistered distributions, 2015) SEC 2015-02-11 Unregistered Distributions — filed
SEC v. Hill and Charles L., Jr. (insider trading, 2015) SEC 2015-02-11 Insider Trading — unknown
SEC v. Mountain Share Transfer, LLC and Erik Sterling Nelson (undisclosed control blocks, 2015) SEC 2015-02-06 Undisclosed Control Blocks $10k settled
SEC v. John Gray et al. (insider trading, 2015) SEC 2015-02-05 Insider Trading — settled
SEC v. Joel J. Epstein (insider trading, 2015) SEC 2015-02-03 Insider Trading — judgment
SEC v. Phillip Cory Roberts (reverse merger schemes, 2015) SEC 2015-02-03 Reverse Merger Schemes — judgment
SEC v. Edwin Yoshihiro Fujinaga and MRI International, Inc., et al. (ponzi schemes, 2015) SEC 2015-01-30 Ponzi Schemes — judgment
SEC v. Francisco Illarramendi, et al. (ponzi schemes, 2015) SEC 2015-01-30 Ponzi Schemes — judgment
SEC v. International Capital Group, LLC (reverse merger schemes, 2015) SEC 2015-01-29 Reverse Merger Schemes , Unregistered Distributions $1.5m settled
SEC v. Loren W. Holzhueter, et al. (ponzi schemes, 2015) SEC 2015-01-29 Ponzi Schemes — unknown
SEC v. Oppenheimer & Co. Inc. (pump and dump, 2015) SEC 2015-01-27 Pump And Dump , Unregistered Distributions — filed
SEC v. du Pasquier & Co., Inc. (naked short selling debate, 2015) SEC 2015-01-21 Naked Short Selling Debate — settled
SEC v. Frederic Elm f/k/a Frederic Elmaleh, et al. (ponzi schemes, 2015) SEC 2015-01-21 Ponzi Schemes — judgment
SEC v. Robert A. Ramsey, CPA (insider trading, 2015) SEC 2015-01-21 Insider Trading — settled
SEC v. Charles Irizarry (undisclosed control blocks, 2015) SEC 2015-01-15 Undisclosed Control Blocks — settled
SEC v. Stuart Carnie (undisclosed control blocks, 2015) SEC 2015-01-15 Undisclosed Control Blocks — settled
SEC v. Wayne Middleton (undisclosed control blocks, 2015) SEC 2015-01-15 Undisclosed Control Blocks — settled
CFTC v. Allied Markets LLC (ponzi schemes, 2015) CFTC 2015-01-13 Ponzi Schemes — filed
SEC v. Aleksandr Milrud (layering, 2015) SEC 2015-01-13 Layering — judgment
CFTC v. Royal Bank (wash trading, 2014) CFTC 2014-12-19 Wash Trading $35m judgment
CFTC v. Five Banks (benchmark submission rigging, 2014) CFTC 2014-11-13 Benchmark Submission Rigging , FX Fixing +1 $1.4bn judgment
CFTC v. unnamed respondents (wash trading, 2014) CFTC 2014-11-07 Wash Trading — filed
CFTC v. MF Global Inc. (boiler rooms, 2014) CFTC 2014-11-07 Boiler Rooms , Wash Trading — settled
CFTC v. Defendant Eric Moncada (price manipulation, 2014) CFTC 2014-10-02 Price Manipulation , Wash Trading $1.6m judgment
CFTC v. Defendant Daniel Shak (price manipulation, 2014) CFTC 2014-10-01 Price Manipulation $400k filed
CFTC v. Utah Resident Scott A. Beatty and his Company (ponzi schemes, 2014) CFTC 2014-10-01 Ponzi Schemes $1m judgment
CFTC v. Fan Zhang (wash trading, 2014) CFTC 2014-09-30 Wash Trading $250k judgment
CFTC v. Illinois Resident Gerald J. Considine and His Companies (wash trading, 2014) CFTC 2014-09-30 Wash Trading — filed
CFTC v. Absa Bank (wash trading, 2014) CFTC 2014-09-26 Wash Trading $150k judgment
CFTC v. Ohio Resident John R. Bullar and his Company (ponzi schemes, 2014) CFTC 2014-09-24 Ponzi Schemes , Wash Trading — filed
CFTC v. Ohio Resident Glen Galemmo (ponzi schemes, 2014) CFTC 2014-09-17 Ponzi Schemes — filed
CFTC v. SAC LP (insider trading, 2014) CFTC 2014-09-17 Insider Trading — unknown
CFTC v. Brian Hunter (price manipulation, 2014) CFTC 2014-09-16 Price Manipulation $7.5m judgment
CFTC v. Morgan Stanley Smith Barney (ponzi schemes, 2014) CFTC 2014-09-16 Ponzi Schemes $280k judgment
CFTC v. FirstRand Bank (wash trading, 2014) CFTC 2014-08-28 Wash Trading $150k judgment
CFTC v. North Carolina Resident Edwin A. Vasquez and His Company Vasquez Global Investments (ponzi schemes, 2014) CFTC 2014-08-08 Ponzi Schemes — filed
CFTC v. Parnon Energy Inc. (price manipulation, 2014) CFTC 2014-08-05 Price Manipulation $13m settled
CFTC v. Lloyds Banking Group and Lloyds Bank (benchmark submission rigging, 2014) CFTC 2014-07-29 Benchmark Submission Rigging , Cash Vs Derivatives Schemes +1 $105m judgment
CFTC v. Robert Andres (ponzi schemes, 2014) CFTC 2014-06-20 Ponzi Schemes $32.4m judgment
CFTC v. RP Martin Holdings Limited and Its Subsidiary (benchmark submission rigging, 2014) CFTC 2014-05-16 Benchmark Submission Rigging , Price Manipulation +1 $1.2m judgment
CFTC v. unnamed respondents (ponzi schemes, 2014) CFTC 2014-04-01 Ponzi Schemes $5.8m judgment
CFTC v. Defendants Ward Onsa (ponzi schemes, 2014) CFTC 2014-04-01 Ponzi Schemes $5.7m judgment
CFTC v. Defendants (ponzi schemes, 2014) CFTC 2014-03-22 Ponzi Schemes $2.2m filed
CFTC v. South Carolina Residents Robert S. and Amy L. Leben (ponzi schemes, 2014) CFTC 2014-03-20 Ponzi Schemes — unknown
CFTC v. Dimitry Vishnevetsky (benchmark submission rigging, 2014) CFTC 2014-03-11 Benchmark Submission Rigging $1.9m judgment
CFTC v. Defendants Harbor Light Asset (ponzi schemes, 2014) CFTC 2014-02-12 Ponzi Schemes $5.2m judgment
CFTC v. David M. Nunn (wash trading, 2013) CFTC 2013-12-20 Wash Trading $600k judgment
CFTC v. David R. Lynch (ponzi schemes, 2013) CFTC 2013-12-13 Ponzi Schemes $300k judgment
CFTC v. of Attempted Manipulation of NYMEX Crude Oil Futures Contracts (banging the close, 2013) CFTC 2013-11-26 Banging The Close , Price Manipulation +1 $400k judgment
CFTC v. Donald R. Wilson and his Company (banging the close, 2013) CFTC 2013-11-07 Banging The Close , Price Manipulation +1 — unknown
CFTC v. Co (benchmark submission rigging, 2013) CFTC 2013-10-30 Benchmark Submission Rigging , Price Manipulation $475m judgment
CFTC v. UBS (benchmark submission rigging, 2013) CFTC 2013-10-25 Benchmark Submission Rigging , Ponzi Schemes +2 $1.5m settled
CFTC v. ICAP Europe Limited (benchmark submission rigging, 2013) CFTC 2013-09-26 Benchmark Submission Rigging , Price Manipulation $65m judgment
CFTC v. unnamed respondents (ponzi schemes, 2013) CFTC 2013-08-27 Ponzi Schemes $350k settled
CFTC v. Panther Energy Trading LLC and its Principal Michael J. Coscia (spoofing, 2013) CFTC 2013-07-23 Spoofing $1.4m judgment
CFTC v. Texas-based RFF GP (paid stock promotion, 2013) CFTC 2013-07-13 Paid Stock Promotion — unknown
CFTC v. Defendant Christopher Varlesi (paid stock promotion, 2013) CFTC 2013-06-26 Paid Stock Promotion , Ponzi Schemes $700k judgment