Puerto Rico-based trader accused of over 1,000 manipulative transactions spanning hundreds of stocks.
The SEC charged Harsh V. Patel with violations of federal securities law for allegedly conducting a manipulative trading scheme from San Juan, Puerto Rico, that generated more than $5 million in ill-gotten gains over approximately three years. According to the complaint, Patel engaged in over 1,000 instances of alleged manipulation spanning hundreds of stocks from May 2021 through January 2024, using layered market orders to create artificial price movement. The SEC seeks permanent injunctions, conduct-based injunctions, disgorgement with prejudgment interest, and civil penalties against Patel.
Sources
SEC Charges Day Trader Harsh V. Patel $5M Fraud
More from Securities & Markets Browse all →
SFC Settles With PwC for HK$1B Over Evergrande Audit Failures
The Securities and Futures Commission of Hong Kong has settled with PricewaterhouseCoopers HK, requiring HK$1 billion in compensation for shareholders of China Evergrande Group. The SFC found that audited financial statements for fiscal years 2019 and 2020 contained material misstatements that contributed to the company's liquidation.
April 24, 2026
SEC Charges Voyager Pacific Capital With $15M Fraud Scheme
The SEC filed civil fraud charges against Voyager Pacific Capital Management, CEO Roger Hardcastle, former CFO John Giarmarco, and COO Vanessa Lung-Medlock for allegedly misappropriating over $15 million from investors. The complaint alleges the defendants ran a Ponzi-like scheme from September 2020 through March 2024, using new investor money to make payments to earlier investors.
April 24, 2026
Arkansas Securities Leads $220M Multi-State Enforcement Sweep in One Day
The Arkansas Securities Department coordinated five enforcement actions in a single day totaling over $220 million, targeting Vanguard, Block (Cash App), Edward Jones, Bayview Asset Management, and a mortgage loan officer. The sweep spans securities supervision, BSA/AML compliance, cybersecurity practices, and licensing fraud—signaling a concentrated multi-state enforcement push.
April 23, 2026
SEC Charges Two in $60M Crypto Fraud Spree Over Three Days
The SEC filed two major crypto fraud cases in three days—charging Donald G. Basile for a $16 million SAFT scheme and Sudheesh Nambiar for a $43 million Ponzi-like fraud—adding to an earlier $2 million judgment against Spartan Trading. The enforcement surge suggests coordinated focus on digital asset fraud targeting retail investors.
April 18, 2026
Get the briefing in your inbox
The top regulatory stories, delivered daily. No noise.
Free. Unsubscribe anytime.