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Fraud Slapper is a satirical newspaper covering entirely real events: the civil enforcement actions of the U.S. Securities and Exchange Commission. Every case we publish is based on an official SEC litigation release and the court documents attached to it. The headlines are ours; the facts are the SEC's.
Each article links to its source litigation release on sec.gov, and the combined PDF on every case page contains the underlying SEC documents themselves. Dollar figures, parties, dates, and outcomes are drawn from those filings. If you want the unslapped version, it is always one click away.
New litigation releases are collected from sec.gov daily. Summaries, plain-English explainers, and headlines are drafted with the assistance of AI and published alongside the source documents; the Slappability Index is our editorial (and highly scientific) rating of each scheme's audacity. When we find an error, we correct the article.
An SEC complaint contains allegations, which remain allegations unless and until a court rules or the parties settle — many of the cases covered here are ongoing, and some end in dismissals (we cover those too). Nothing on this site is legal advice, investment advice, or a substitute for reading the actual filings. Headlines are written in the register of a 1930's gazette; the case pages state the facts.
Corrections and inquiries: see the contact details on our front page. Fraud Slapper is an independent publication and is not affiliated with, or endorsed by, the U.S. Securities and Exchange Commission, nor any sane human beings.