Lek Securities Corporation, Samuel Lek, Vali Management Partners dba Avalon FA Ltd, Nathan Fayyer, Sergey Pustelnik

SANCTION AMOUNT: $1945892

Defendants: Lek Securities Corporation, Vali Management Partners dba Avalon FA Ltd
Samuel Lek, Nathan Fayyer, Sergey Pustelnik

Settlement by brokerage firm Lek Securities and Sam Lek who allegedly helped facilitate manipulative trading schemes by customer, Avalon FA Ltd, headquartered in Kiev. According to the complaint, Avalon illegally profited from layering (placing and canceling orders to trick others into buying or selling stocks at artificial prices) and cross-market manipulation (buying or selling stocks to artificially impact options prices).