Securities, Market, and Private Fraud Unit

The Securities, Market, and Private Fraud (“SMP”) Unit investigates and prosecutes offenses involving fraud and manipulation that harm U.S. markets and investors sophisticated schemes affecting banks and financial institutions, and complex consumer and investment frauds targeted at Americans. Historically, the Unit has tackled some of the largest frauds in the financial services industry and a wide mix of market manipulation and insider trading.  The SMP Unit also focuses on a broader array of financial fraud, including bank fraud and accounting fraud.

Protecting Financial Markets and U.S. Investors

The SMP Unit works to protect American investors by combatting fraud occurring in or affecting U.S. financial markets. The SMP Unit’s investigation and prosecution of market-based fraud and manipulation focuses primarily on U.S. securities and commodities markets, including but not limited to insider trading, “pump and dumps,” spoofing, wash trading, benchmark price manipulation, cross-market manipulation, public issuer accounting fraud, and disclosure-based securities fraud.  One area of focus is prosecuting schemes that involve the use of foreign issuers listed on U.S. exchanges – including variable interest entities (VIEs) – that are used to facilitate “ramp and dumps” and other market manipulation targeting American investors.  Much of the Unit’s work in the market manipulation arena is done in parallel with regulatory partners at the U.S. Securities and Exchange Commission (SEC), U.S. Commodity Futures Trading Commission (CFTC), and the Financial Industry Regulatory Authority (FINRA), among others. 

Protecting American Consumers 

In addition, the SMP Unit investigates and prosecutes complex consumer and investment fraud schemes, including those orchestrated by transnational criminal organizations.  These schemes to defraud Americans often target vulnerable or elderly citizens through unlawful pyramid or Ponzi investor networks, international telemarketing schemes, foreign scam centers, and other cyber-enabled crimes.  The Unit also is a national leader in pursuing criminal actors that exploit emerging technologies to facilitate fraud and cause widespread harm to the American public, including foreign-based scam centers. In this space, the SMP Unit works with domestic and foreign law enforcement partners to identify and combat the biggest fraud threats facing U.S. consumers.  

Protecting American Consumers

In addition, the SMP Unit investigates and prosecutes complex consumer and investment fraud schemes, including those orchestrated by transnational criminal organizations.  These schemes to defraud Americans often target vulnerable or elderly citizens through unlawful pyramid or Ponzi investor networks, international telemarketing schemes, foreign scam centers, and other cyber-enabled crimes.  The Unit also pursues criminal actors that exploit emerging technologies to facilitate fraud and cause widespread harm to the American public.  In this space, the SMP Unit works with domestic and foreign law enforcement partners to identify and combat the biggest fraud threats facing U.S. consumers. 

Contact the Securities, Market, and Private Fraud Unit

By Mail
Correspondence may be sent to:
White Collar and Corporate Enforcement and Corporate Enforcement Section, Criminal Division
U.S. Department of Justice
ATTN: Chief, Market, Securities, Market, and Private Fraud Unit
950 Constitution Ave., NW
Washington, DC 20530