(Reuters) - The Commodity Futures Trading Commission also said Amaranth tried to cover up activities by lying to the New York Mercantile Exchange . The agency is seeking monetary penalties, but not jail time, for the wrongdoing.
Amaranth racked up $6.4 billion in losses from bad natural gas contracts before it folded last year, after moving most of its contract positions from the regulated NYMEX to Atlanta-based IntercontinentalExchange where the CFTC has policing powers but no authority to regulate.
Read more at Reuters.com Business News
Amaranth racked up $6.4 billion in losses from bad natural gas contracts before it folded last year, after moving most of its contract positions from the regulated NYMEX to Atlanta-based IntercontinentalExchange where the CFTC has policing powers but no authority to regulate.
Read more at Reuters.com Business News
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