{ "version": "https://jsonfeed.org/version/1.1", "title": "Market Manipulation: Price manipulation enforcement actions", "home_page_url": "https://marketmanipulation.org/cases/technique/price-manipulation/", "feed_url": "https://marketmanipulation.org/feeds/technique/price-manipulation.json", "description": "The 30 most recent enforcement records tagged price manipulation in the Market Manipulation library, each linked to its primary source. Tags are our classification, not the charges.", "language": "en-US", "items": [ { "id": "https://marketmanipulation.org/cases/sebi-105574-social-media-ramps-2026/", "url": "https://marketmanipulation.org/cases/sebi-105574-social-media-ramps-2026/", "external_url": "https://www.sebi.gov.in/enforcement/orders/nov-2026/adjudication-order-in-the-matter-of-front-running-of-the-trades-of-axis-mutual-fund_105574.html", "title": "SEBI v. unnamed respondents (social media ramps, 2026)", "summary": "To be completed from the SEBI order. SEBI adjudication order published 2026-11-03: Adjudication Order in the matter of front running of the trades of Axis Mutual Fund", "date_published": "2026-11-03T00:00:00.000Z", "tags": [ "SEBI", "social-media-ramps", "matched-orders", "price-manipulation" ] }, { "id": "https://marketmanipulation.org/cases/sebi-104646-matched-orders-2026/", "url": "https://marketmanipulation.org/cases/sebi-104646-matched-orders-2026/", "external_url": "https://www.sebi.gov.in/enforcement/orders/sep-2026/adjudication-order-in-respect-to-shri-shreedhar-yellaiah-kodam-in-the-matter-of-well-pack-papers-and-containers-limited_104646.html", "title": "SEBI v. Shreedhar Yellaiah Kodam (synchronized trades, Well Pack Papers, 2026)", "summary": "On remand from the Securities Appellate Tribunal, a SEBI adjudicating officer re-examined the allegation that a Mumbai pan-shop owner was part of a 51-member group whose synchronized trades inflated Well Pack Papers and Containers Ltd. In September 2026 the officer found the fraud charge unproven and disposed of the proceedings without a penalty.", "date_published": "2026-09-22T00:00:00.000Z", "tags": [ "SEBI", "matched-orders", "price-manipulation" ] }, { "id": "https://marketmanipulation.org/cases/sebi-104110-misleading-issuer-disclosure-2026/", "url": "https://marketmanipulation.org/cases/sebi-104110-misleading-issuer-disclosure-2026/", "external_url": "https://www.sebi.gov.in/enforcement/orders/aug-2026/final-order-in-the-matter-of-debock-industries-limited_104110.html", "title": "SEBI v. Debock Industries Limited and others (fictitious issues, inflated sales and diverted rights-issue funds, 2026)", "summary": "A SEBI whole-time member found in August 2026 that Debock Industries moved to the NSE main board through fictitious preferential issues, inflated its sales and purchases, and diverted Rs 49 crore of a rights issue to its promoters and related entities. Eleven noticees are debarred for two to seven years, three must disgorge about Rs 59.31 crore, and penalties total Rs 29.57 crore.", "date_published": "2026-08-28T00:00:00.000Z", "tags": [ "SEBI", "misleading-issuer-disclosure", "price-manipulation" ] }, { "id": "https://marketmanipulation.org/cases/sebi-104019-misleading-issuer-disclosure-2026/", "url": "https://marketmanipulation.org/cases/sebi-104019-misleading-issuer-disclosure-2026/", "external_url": "https://www.sebi.gov.in/enforcement/orders/aug-2026/final-order-in-respect-of-varanium-cloud-limited_104019.html", "title": "SEBI v. Varanium Cloud Limited and others (false accounts, diverted IPO funds and share sales, 2026)", "summary": "A SEBI whole-time member found in August 2026 that Varanium Cloud, an SME-listed company, misrepresented its financial statements and prospectus and diverted Rs 62.51 crore of IPO and rights-issue money, while its promoter sold shares at inflated prices. The final order imposes debarments of up to seven years, disgorgement of about Rs 128.77 crore from the promoter and penalties totalling Rs 33.08 crore.", "date_published": "2026-08-25T00:00:00.000Z", "tags": [ "SEBI", "misleading-issuer-disclosure", "price-manipulation" ] }, { "id": "https://marketmanipulation.org/cases/sebi-103309-social-media-ramps-2026/", "url": "https://marketmanipulation.org/cases/sebi-103309-social-media-ramps-2026/", "external_url": "https://www.sebi.gov.in/enforcement/orders/aug-2026/adjudication-order-in-the-matter-of-decillion-finance-limited_103309.html", "title": "SEBI v. Abhay Dwivedi and others (YouTube promotion, Decillion Finance, 2026)", "summary": "A SEBI adjudicating officer found in August 2026 that videos on a YouTube channel promoted Decillion Finance shares while connected traders bought and sold, with the price rising from about Rs 22 to Rs 95 between October 2022 and January 2023. The order imposes PFUTP penalties on eleven noticees and takeover-code disclosure penalties on others.", "date_published": "2026-08-03T00:00:00.000Z", "tags": [ "SEBI", "social-media-ramps", "price-manipulation" ] }, { "id": "https://marketmanipulation.org/cases/cftc-george-santos-price-manipulation-2026/", "url": "https://marketmanipulation.org/cases/cftc-george-santos-price-manipulation-2026/", "external_url": "https://www.cftc.gov/PressRoom/PressReleases/9276-26", "title": "CFTC v. George Santos (price manipulation, 2026)", "summary": "In July 2026 the CFTC issued an order settling charges against former Congressman George Santos for manipulative trading in a State of the Union attendance event contract whose outcome he controlled, between February 12 and 25, 2026, to move the swap price. He pays $17,570 in disgorgement and a $17,500 penalty and is banned from trading for three years.", "date_published": "2026-07-31T00:00:00.000Z", "tags": [ "CFTC", "price-manipulation" ] }, { "id": "https://marketmanipulation.org/cases/sebi-103102-social-media-ramps-2026/", "url": "https://marketmanipulation.org/cases/sebi-103102-social-media-ramps-2026/", "external_url": "https://www.sebi.gov.in/enforcement/orders/jul-2026/adjudication-order-in-the-matter-of-market-manipulation-in-the-scrip-of-akash-infra-projects-limited_103102.html", "title": "SEBI v. Amesh Surajlal Jaiswal and others (Telegram tips, Akash Infra-Projects, 2026)", "summary": "A SEBI adjudicating officer found in July 2026 that three of thirteen noticees circulated stock recommendations on Telegram channels to push up the price and volume of Akash Infra-Projects shares in 2021 and 2022. They are jointly penalised Rs 20 lakh; the order does not sanction the other ten.", "date_published": "2026-07-28T00:00:00.000Z", "tags": [ "SEBI", "social-media-ramps", "price-manipulation" ] }, { "id": "https://marketmanipulation.org/cases/sebi-102459-price-manipulation-2026/", "url": "https://marketmanipulation.org/cases/sebi-102459-price-manipulation-2026/", "external_url": "https://www.sebi.gov.in/enforcement/orders/jun-2026/adjudication-order-in-respect-of-bhavin-sureshbhai-thakkar-in-the-matter-of-evexia-lifecare-limited_102459.html", "title": "SEBI v. Bhavin Sureshbhai Thakkar (price manipulation, Evexia Lifecare, dismissed, 2026)", "summary": "In June 2026 a SEBI adjudicating officer gave a trader the benefit of the doubt on charges that he pushed up the price of Evexia Lifecare shares with many one-share buy orders. The order found the manipulation not established on the balance of probabilities and imposed no penalty.", "date_published": "2026-06-30T00:00:00.000Z", "tags": [ "SEBI", "price-manipulation" ] }, { "id": "https://marketmanipulation.org/cases/sebi-102471-matched-orders-2026/", "url": "https://marketmanipulation.org/cases/sebi-102471-matched-orders-2026/", "external_url": "https://www.sebi.gov.in/enforcement/orders/jun-2026/final-order-in-the-matter-of-mauria-udyog-ltd-and-4-other-scrips_102471.html", "title": "SEBI v. Hanif Shekh and others (price and volume manipulation in five scrips, Mauria Udyog and others, 2026)", "summary": "A June 2026 SEBI final order found that Hanif Shekh and 225 other entities took part in a scheme to inflate the price and volume of five thinly traded scrips between 2017 and 2020 through connected-party trades and bulk buy recommendations, then sold into the rise. It restrains 223 noticees for four to seven years, orders disgorgement and imposes tiered penalties.", "date_published": "2026-06-30T00:00:00.000Z", "tags": [ "SEBI", "matched-orders", "pump-and-dump", "price-manipulation" ] }, { "id": "https://marketmanipulation.org/cases/sebi-101736-social-media-ramps-2026/", "url": "https://marketmanipulation.org/cases/sebi-101736-social-media-ramps-2026/", "external_url": "https://www.sebi.gov.in/enforcement/orders/may-2026/order-in-the-matter-of-m-s-veerkrupa-jewellers-limited-_101736.html", "title": "SEBI v. Veerkrupa Jewellers Limited and others (SME IPO publicity and trading, 2026)", "summary": "A May 2026 SEBI order found that publicity for the SME IPO of Veerkrupa Jewellers, including a news-site article and social media videos, was part of a fraudulent scheme, and that connected traders and the market maker moved the share price and volume after listing. Seventeen noticees receive market restraints of three to five years and some must disgorge gains.", "date_published": "2026-05-29T00:00:00.000Z", "tags": [ "SEBI", "paid-stock-promotion", "social-media-ramps", "price-manipulation" ] }, { "id": "https://marketmanipulation.org/cases/sebi-101474-social-media-ramps-2026/", "url": "https://marketmanipulation.org/cases/sebi-101474-social-media-ramps-2026/", "external_url": "https://www.sebi.gov.in/enforcement/orders/may-2026/adjudication-order-in-the-matter-of-darshan-orna-limited_101474.html", "title": "SEBI v. Aakash Doshi and others (Telegram tips, Darshan Orna Limited, 2026)", "summary": "A SEBI adjudicating officer re-decided in May 2026, after remand by the Securities Appellate Tribunal, a case alleging price manipulation of Darshan Orna Limited using Telegram tips in 2021 and 2022. The order again imposes penalties, Rs 2.9 crore on three members of one group and Rs 20 lakh on a second pair, each paid jointly and severally.", "date_published": "2026-05-15T00:00:00.000Z", "tags": [ "SEBI", "social-media-ramps", "price-manipulation" ] }, { "id": "https://marketmanipulation.org/cases/sebi-101058-matched-orders-2026/", "url": "https://marketmanipulation.org/cases/sebi-101058-matched-orders-2026/", "external_url": "https://www.sebi.gov.in/enforcement/orders/apr-2026/adjudication-order-in-the-matter-of-trading-activities-of-certain-entities-in-the-scrip-of-veer-global-infraconstruction-limited-_101058.html", "title": "SEBI v. Ranjan Sahay and others (price manipulation, Veer Global Infraconstruction, 2026)", "summary": "A SEBI adjudicating officer found in April 2026 that eleven connected individuals traded as a group in the shares of Veer Global Infraconstruction, an SME-board stock, in ways that pushed up its price and volume between 2021 and 2022. Penalties total Rs 30 lakh, imposed jointly and severally in two groups.", "date_published": "2026-04-22T00:00:00.000Z", "tags": [ "SEBI", "price-manipulation" ] }, { "id": "https://marketmanipulation.org/cases/sebi-100430-social-media-ramps-2026/", "url": "https://marketmanipulation.org/cases/sebi-100430-social-media-ramps-2026/", "external_url": "https://www.sebi.gov.in/enforcement/orders/mar-2026/order-in-the-matter-of-retro-green-revolution-limited-_100430.html", "title": "SEBI v. Sanjay Arunkumar Choksi and others (Telegram tips, Retro Green Revolution, 2026)", "summary": "A March 2026 SEBI order found that a promoter-linked Choksi group and associates pushed up the price and volume of Retro Green Revolution shares, helped by Telegram tips, so the group could sell out. It orders disgorgement of about Rs 2.94 crore, restraints of three to five years on eighteen noticees and penalties totalling Rs 2.8 crore.", "date_published": "2026-03-17T00:00:00.000Z", "tags": [ "SEBI", "social-media-ramps", "price-manipulation" ] }, { "id": "https://marketmanipulation.org/cases/sebi-100055-misleading-issuer-disclosure-2026/", "url": "https://marketmanipulation.org/cases/sebi-100055-misleading-issuer-disclosure-2026/", "external_url": "https://www.sebi.gov.in/enforcement/orders/feb-2026/order-in-the-matter-of-mediaone-global-entertainment-ltd-_100055.html", "title": "SEBI v. Mediaone Global Entertainment Ltd. and others (diverted funds and false accounts, 2026)", "summary": "A SEBI chief general manager found that Mediaone Global Entertainment, a Chennai media company, diverted Rs 99.48 crore and falsified its books, with its managing director and other officers held responsible. The order restrains five noticees from the securities market for two to three years and imposes monetary penalties on all seven.", "date_published": "2026-02-27T00:00:00.000Z", "tags": [ "SEBI", "misleading-issuer-disclosure", "price-manipulation" ] }, { "id": "https://marketmanipulation.org/cases/sebi-99723-matched-orders-2026/", "url": "https://marketmanipulation.org/cases/sebi-99723-matched-orders-2026/", "external_url": "https://www.sebi.gov.in/enforcement/orders/feb-2026/adjudication-order-in-the-matter-of-trading-activity-in-the-scrip-of-ani-integrated-services-limited_99723.html", "title": "SEBI v. Harsha Ishvarbhai Solanki and others (trading in ANI Integrated Services, 2026)", "summary": "In February 2026 a SEBI adjudicating officer found that 21 linked traders entered synchronised, reversal and first trades among themselves in ANI Integrated Services shares, creating artificial volume and price movement. Penalties total Rs 66 lakh, mostly Rs 42 lakh jointly and severally.", "date_published": "2026-02-12T00:00:00.000Z", "tags": [ "SEBI", "price-manipulation", "matched-orders" ] }, { "id": "https://marketmanipulation.org/cases/sebi-98774-matched-orders-2025/", "url": "https://marketmanipulation.org/cases/sebi-98774-matched-orders-2025/", "external_url": "https://www.sebi.gov.in/enforcement/orders/dec-2025/final-order-in-the-matter-of-trading-activities-of-certain-entities-in-the-scrip-of-du-digital-technologies-limited-now-du-digital-global-limited-_98774.html", "title": "SEBI v. Usha Devi and others (price and volume manipulation of DU Digital Technologies, 2025)", "summary": "In December 2025 SEBI found that a group of 25 connected traders lifted the price and volume of DU Digital Technologies on the NSE SME platform through synchronised and circular trades. It ordered disgorgement of about Rs 98.8 lakh with interest, penalties totalling Rs 1.85 crore and market restraints of 1 to 2.5 years.", "date_published": "2025-12-31T00:00:00.000Z", "tags": [ "SEBI", "price-manipulation", "matched-orders", "wash-trading" ] }, { "id": "https://marketmanipulation.org/cases/sebi-98776-price-manipulation-2025/", "url": "https://marketmanipulation.org/cases/sebi-98776-price-manipulation-2025/", "external_url": "https://www.sebi.gov.in/enforcement/orders/dec-2025/order-in-respect-of-paresh-nathalal-chauhan-in-the-matter-of-timbor-home-limited_98776.html", "title": "SEBI v. Paresh Nathalal Chauhan (Timbor Home bulk-SMS share scheme, remand order, 2025)", "summary": "In December 2025 SEBI decided afresh, after a tribunal remand for improper service of notices, that one investor took part in a scheme using bulk SMS tips to sell Timbor Home shares received free from promoters. It ordered disgorgement of about Rs 1.62 crore with interest and a Rs 5 lakh penalty.", "date_published": "2025-12-31T00:00:00.000Z", "tags": [ "SEBI", "price-manipulation", "pump-and-dump" ] }, { "id": "https://marketmanipulation.org/cases/asic-25-302mr-price-manipulation-2025/", "url": "https://marketmanipulation.org/cases/asic-25-302mr-price-manipulation-2025/", "external_url": "https://www.asic.gov.au/about-asic/news-centre/find-a-media-release/2025-releases/25-302mr-victorian-man-sentenced-in-market-manipulation-case", "title": "Victorian man sentenced in market manipulation case (ASIC, 2025)", "summary": "In December 2025 Behzad Eghrari of Vermont South was sentenced to 15 months' imprisonment, released on a two-year recognisance, for three market manipulation charges after trading A$7.14 million of ASX shares between his own accounts. The case is wash trading, not insider trading.", "date_published": "2025-12-12T00:00:00.000Z", "tags": [ "ASIC", "price-manipulation", "wash-trading" ] }, { "id": "https://marketmanipulation.org/cases/sebi-97977-wash-trading-2025/", "url": "https://marketmanipulation.org/cases/sebi-97977-wash-trading-2025/", "external_url": "https://www.sebi.gov.in/enforcement/orders/nov-2025/adjudication-order-in-the-matter-of-octant-interactive-technologies-limited-_97977.html", "title": "SEBI v. Indra Pratap Gajraj Singh (Octant Interactive Technologies circular trading, remand dismissal, 2025)", "summary": "In November 2025 a SEBI adjudicating officer re-examined a 2019 Rs 1 crore penalty that the Securities Appellate Tribunal had set aside, and concluded that the material did not establish that the proprietor of a trading firm took part in circular trading and price manipulation. The proceedings were disposed of without penalty.", "date_published": "2025-11-27T00:00:00.000Z", "tags": [ "SEBI", "wash-trading", "price-manipulation" ] }, { "id": "https://marketmanipulation.org/cases/sebi-97713-matched-orders-2025/", "url": "https://marketmanipulation.org/cases/sebi-97713-matched-orders-2025/", "external_url": "https://www.sebi.gov.in/enforcement/orders/nov-2025/adjudication-order-in-respect-of-harish-kumar-sakaria-in-the-matter-of-gala-global-products-limited_97713.html", "title": "SEBI v. Harish Kumar Sakaria (Gala Global Products price manipulation, remand dismissal, 2025)", "summary": "In November 2025 a SEBI adjudicating officer, acting after the Securities Appellate Tribunal set aside an earlier Rs 8 lakh penalty, found that the allegations of synchronised and reversal trading against one investor were not established. The proceedings were closed without any penalty.", "date_published": "2025-11-11T00:00:00.000Z", "tags": [ "SEBI", "matched-orders", "price-manipulation" ] }, { "id": "https://marketmanipulation.org/cases/sebi-97578-wash-trading-2025/", "url": "https://marketmanipulation.org/cases/sebi-97578-wash-trading-2025/", "external_url": "https://www.sebi.gov.in/enforcement/orders/oct-2025/adjudication-order-in-the-matter-of-price-and-volume-manipulation-in-the-scrip-of-quasar-india-limited_97578.html", "title": "SEBI v. Chandrima Mercantiles Limited and others (price and volume manipulation of Quasar India, 2025)", "summary": "In October 2025 a SEBI adjudicating officer found that twenty linked entities drove up the price and volume of Quasar India shares through coordinated and circular trades. Penalties total Rs 2.64 crore, mostly Rs 2.5 crore jointly on eighteen noticees.", "date_published": "2025-10-31T00:00:00.000Z", "tags": [ "SEBI", "price-manipulation", "wash-trading" ] }, { "id": "https://marketmanipulation.org/cases/sebi-96873-price-manipulation-2025/", "url": "https://marketmanipulation.org/cases/sebi-96873-price-manipulation-2025/", "external_url": "https://www.sebi.gov.in/enforcement/orders/sep-2025/adjudication-order-in-respect-of-narendra-ramshankar-dubey-in-the-matter-of-trading-activities-of-certain-entities-in-the-scrip-of-max-heights-infrastructure-ltd-_96873.html", "title": "SEBI v. Narendra Ramshankar Dubey (last-traded-price contributions, Max Heights Infrastructure, 2025)", "summary": "A SEBI adjudicating officer found that an individual investor pushed up the last traded price of Max Heights Infrastructure shares with 176 tiny buy orders priced above the market, and imposed a Rs 5 lakh penalty. The investor said he traded in good faith and lost money.", "date_published": "2025-09-26T00:00:00.000Z", "tags": [ "SEBI", "price-manipulation" ] }, { "id": "https://marketmanipulation.org/cases/sebi-96768-market-abuse-2025/", "url": "https://marketmanipulation.org/cases/sebi-96768-market-abuse-2025/", "external_url": "https://www.sebi.gov.in/enforcement/orders/sep-2025/adjudication-order-in-respect-of-8-entities-in-the-matter-of-trading-activities-of-certain-entities-in-the-scrip-of-max-heights-infrastructure-ltd-_96768.html", "title": "SEBI v. Shubham Mittal and others (Max Heights Infrastructure share-split proposal, 2025)", "summary": "In September 2025 a SEBI adjudicating officer found that an independent director of Max Heights Infrastructure Limited and connected entities floated a misleading share-split proposal in late 2022 to lift the share price, which the connected entities then sold into. Seven noticees were penalised Rs 10 lakh, jointly and severally, and one entity was let off.", "date_published": "2025-09-22T00:00:00.000Z", "tags": [ "SEBI", "misleading-issuer-disclosure", "price-manipulation" ] }, { "id": "https://marketmanipulation.org/cases/sebi-96407-matched-orders-2025/", "url": "https://marketmanipulation.org/cases/sebi-96407-matched-orders-2025/", "external_url": "https://www.sebi.gov.in/enforcement/orders/sep-2025/adjudication-order-in-the-matter-of-manipulation-in-the-scrip-of-secur-credentials-limited_96407.html", "title": "SEBI v. Pankaj Rameshchandra Vyas and others (synchronized trades in SecUR Credentials, 2025)", "summary": "A SEBI adjudicating officer found that a company's departing promoters sold their stake to a family group of connected buyers through synchronized trades, which formed about 17 per cent of market volume. Penalties of Rs 30 lakh in total were imposed on the promoters, the buyers and the broker.", "date_published": "2025-09-03T00:00:00.000Z", "tags": [ "SEBI", "matched-orders", "price-manipulation" ] }, { "id": "https://marketmanipulation.org/cases/sebi-95706-social-media-ramps-2025/", "url": "https://marketmanipulation.org/cases/sebi-95706-social-media-ramps-2025/", "external_url": "https://www.sebi.gov.in/enforcement/orders/jul-2025/adjudication-order-in-the-matter-of-darshan-orna-limited_95706.html", "title": "SEBI v. Aakash Doshi and others (Telegram-promoted price manipulation, Darshan Orna, 2025)", "summary": "A SEBI adjudicating officer found that eleven connected people combined trades that pushed up Darshan Orna's price with stock tips on a Telegram channel, while seven of them made about Rs 2.51 crore by selling out. The order imposed penalties between Rs 10 lakh and Rs 1.2 crore, Rs 3.87 crore in total.", "date_published": "2025-07-30T00:00:00.000Z", "tags": [ "SEBI", "chat-group-pumps", "price-manipulation" ] }, { "id": "https://marketmanipulation.org/cases/asic-delta-power-price-manipulation-2025/", "url": "https://marketmanipulation.org/cases/asic-delta-power-price-manipulation-2025/", "external_url": "https://www.asic.gov.au/about-asic/news-centre/find-a-media-release/2025-releases/25-115mr-asic-sues-delta-power-energy-vales-point-pty-ltd-for-alleged-futures-market-and-financial-benchmark-manipulation", "title": "ASIC v. Delta Power & Energy (Vales Point) Pty Ltd (price manipulation, 2025)", "summary": "In June 2025 ASIC began Federal Court civil penalty proceedings against Delta Power & Energy (Vales Point) Pty Ltd, alleging it placed orders for New South Wales peak-load electricity futures shortly before the ASX 24 close on 30 occasions between September and October 2022 to affect the daily settlement price, which ASIC alleges is a financial benchmark. ASIC seeks declarations and penalties. The matter is an allegation.", "date_published": "2025-06-30T00:00:00.000Z", "tags": [ "ASIC", "price-manipulation", "marking-the-close" ] }, { "id": "https://marketmanipulation.org/cases/sebi-94722-market-abuse-2025/", "url": "https://marketmanipulation.org/cases/sebi-94722-market-abuse-2025/", "external_url": "https://www.sebi.gov.in/enforcement/orders/jun-2025/order-in-the-matter-of-alleged-illegal-profiting-by-mr-shivprasad-pattiya-and-mr-alkesh-narware-by-trading-in-the-stock-options-through-accounts-of-group-of-persons-controlled-by-them_94722.html", "title": "SEBI v. Shivprasad Pattiya and Alkesh Narware (WhatsApp algo-trading scheme, illiquid stock options, 2025)", "summary": "In June 2025 a SEBI quasi-judicial authority ordered Shivprasad Pattiya and Alkesh Narware to disgorge Rs 4.83 crore, barred them from the market for three years and fined each Rs 25 lakh. SEBI found that they used investors' trading accounts, obtained through promises of algorithmic trading profits, to trade illiquid stock options at off-market prices against accounts they controlled.", "date_published": "2025-06-20T00:00:00.000Z", "tags": [ "SEBI", "price-manipulation" ] }, { "id": "https://marketmanipulation.org/cases/asic-25-039mr-price-manipulation-2025/", "url": "https://marketmanipulation.org/cases/asic-25-039mr-price-manipulation-2025/", "external_url": "https://www.asic.gov.au/about-asic/news-centre/find-a-media-release/2025-releases/25-039mr-victorian-man-charged-over-alleged-market-manipulation", "title": "Victorian man charged over alleged market manipulation (ASIC, 2025)", "summary": "In March 2025 ASIC announced that Behzad Eghrari of Vermont South, Victoria, was charged with three offences over wash trades in Investigator Resources, Silver Mines and Lumos Diagnostics shares. He pleaded guilty and, in December 2025, the County Court of Victoria sentenced him to 15 months' imprisonment, released immediately on a two-year good behaviour recognisance.", "date_published": "2025-03-14T00:00:00.000Z", "tags": [ "ASIC", "price-manipulation", "wash-trading" ] }, { "id": "https://marketmanipulation.org/cases/amf-fr-san-2024-11-price-manipulation-2024/", "url": "https://marketmanipulation.org/cases/amf-fr-san-2024-11-price-manipulation-2024/", "external_url": "https://www.amf-france.org/fr/sanctions-transactions/decisions-de-la-commission-des-sanctions/san-2024-11", "title": "AMF France v. Auplata Mining Group and others (price manipulation, 2024)", "summary": "In December 2024 the Commission des sanctions fined a gold-mining company, its chief executive, its auditors and a convertible-bond financing fund's managers a combined EUR 4.15 million. It found misleading disclosures about a convertible-bond financing and abusive selling of the shares the financing generated in late 2017.", "date_published": "2024-12-11T00:00:00.000Z", "tags": [ "AMF-FR", "price-manipulation" ] }, { "id": "https://marketmanipulation.org/cases/sebi-89155-matched-orders-2024/", "url": "https://marketmanipulation.org/cases/sebi-89155-matched-orders-2024/", "external_url": "https://www.sebi.gov.in/enforcement/orders/nov-2024/order-in-the-matter-of-continental-seeds-and-chemicals-limited_89155.html", "title": "SEBI v. Praveen Rastogi and others (Continental Seeds and Chemicals scheme, 2024)", "summary": "In November 2024 SEBI found that the managing director of Continental Seeds and Chemicals and a network of connected people had traded the company's shares among themselves so that the price rose about 664 per cent. The order directed disgorgement of Rs 2,24,17,400 with interest, imposed restraints of 3 months to 2 years and penalties totalling Rs 2,18,00,000.", "date_published": "2024-11-29T00:00:00.000Z", "tags": [ "SEBI", "matched-orders", "price-manipulation" ] } ] }