SEC Files Settled Enforcement Action Against Medical Resident for Spoofing

SEC Files Settled Action as to Southern California Resident in Alleged Manipulative Spoofing Scheme

On December 16, 2025, the Securities and Exchange Commission filed settled charges as to Artur Khachatryan, a resident of Tujunga, California, for allegedly conducting a manipulative stock trading scheme known as spoofing over a two-year period and generating approximately $373,885 in ill-gotten gains.

According to the SEC’s complaint, Khachatryan’s scheme involved placing orders for stock that he did not intend to execute – otherwise known as spoof orders. The complaint alleges that he placed these orders outside of regular market hours when the stocks were thinly traded and the prices were easier to manipulate. According to the complaint, as part of his alleged scheme, Khachatryan would rapidly place a series of spoof orders on one side of the market for a particular stock, which artificially moved the stock price in a direction of his choosing. The complaint further alleges that he then would place and execute orders on the opposite side of the market to take advantage of the price movement he had created, before quickly canceling his spoof orders. Khachatryan then allegedly repeated the same spoofing scheme on the other side of the market to move the stock price in the opposite direction and lock in his profits from trading at manipulated prices. The SEC’s complaint alleges that after multiple broker-dealers restricted trading in or closed Khachatryan’s accounts, he opened brokerage accounts in the names of other individuals to continue his manipulative trading.

FBI Investigating Founder Accused of Using VC Money to Pay for Her House 

Shiloh Luckey, founder and former CEO of ComplYant, a Los-Angeles-based tax-compliance startup that raised more than $13 million from top venture capitalists, is under federal criminal investigation for alleged securities and bank fraud, according to court filings. In a civil complaint, the SEC has charged Luckey with violating securities laws for using millions of dollars of company funds to pay for her home, Super Bowl tickets, and a destination wedding in the Caribbean. The SEC alleges she painted a rosy picture of the company’s booming revenue when ComplYant never brought in more than $620 in monthly revenue.

Reached by telephone, Luckey said, “I don’t have anything to offer you,” and hung up.

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This Bitcoin Decline Is Not Like the Others

Bitcoin is headed for the fourth annual decline in its history, and the first one that didn’t coincide with a major scandal or industry meltdown.

While the latest decline is milder than in the previous three down years, it’s happened against a vastly different backdrop. Since the last major crypto crash in 2022, institutional adoption has widened, regulation has matured and the industry has found arguably its most important champion in US President Donald Trump.

The rapid lurch lower since Bitcoin hit a record above $126,000 in early October has confounded bulls. Volumes are low, investors are bailing on Bitcoin ETFs and derivatives markets are showing a lack of appetite for betting on a rebound.