Northern California Man Pleads Guilty to Years-Long Securities Fraud Spoofing Scheme

Mingran Wang pleaded guilty to one count of securities fraud for engaging in over 3,000 instances of spoofing. He agreed to forfeit over $1.3 million in fraud proceeds. Wang faces a maximum penalty of five years in prison.

• •Mingran Wang pleaded guilty to securities fraud.
• •He engaged in over 3,000 instances of spoofing.
• •Wang agreed to forfeit over $1.3 million in proceeds.
• •He faces a maximum of five years in prison.
• •This enforcement action reinforces the seriousness of securities fraud.

This enforcement action addresses manipulative trading practices, protecting market participants from deceptive tactics. It emphasizes the consequences of securities fraud.