CFTC sues Amaranth for natgas price manipulation

(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

Web Sites Ordered to Pay $3.6 Million for Energy-Trading Scam, CFTC Says

(Bloomberg) -- A U.S. federal court ordered two Web
sites to pay $3.65 million for bilking investors by posing as an
energy-trading exchange and a broker, the U.S. Commodity Futures
Trading Commission said.

The sites, which used the names York Commodities and the
American Energy Exchange, were ordered by a U.S. District Court
in Manhattan to reimburse investors almost $3.3 million and pay
$390,000 in fines, the Washington-based CFTC said today.


Read more at Bloomberg Energy News