Free Republic
Browse · Search
News/Activism
Topics · Post Article

To: thackney
"On Jan. 8, the government alleges, Mark Radley, manager of the Houston-based natural-gas liquids, or NGL, trading team, told other BP traders the market was "vulnerable to a squeeze," according to taped phone records. BP declined to discuss specific disciplinary action, but in an attachment to the CFTC complaint, regulators said Mr. Radley was fired by BP in connection with the trade. His attorney didn't return a phone call and email message seeking comment.

On Feb. 5, Mr. Radley discussed the benefits of the deal with a lieutenant on the trading floor, Dennis Abbott, according to the complaint. "What we stand to gain, is not just we'd make money out of it, but we would know from thereafter that we can control the market at will," he said, according to phone recordings.

In a criminal plea filed by the Department of Justice, Mr. Abbott admitted to participating in the alleged market manipulation and is cooperating in the criminal probe. His attorney declined to comment in an email."

From a few years ago.

28 posted on 01/08/2013 9:25:09 AM PST by Paladin2
[ Post Reply | Private Reply | To 23 | View Replies ]


To: Paladin2

Thank you trying to turn a discussion of the NGL market and how it impacts manufacturing in the US into a BP bashing session.

They also sell donuts at their convenience stores. Maybe you can find a thread on donuts to carry this on as well.


29 posted on 01/08/2013 9:32:47 AM PST by thackney (life is fragile, handle with prayer)
[ Post Reply | Private Reply | To 28 | View Replies ]

To: Paladin2

On January 27, 2011, the U.S. Court of Appeals for the Fifth Circuit affirmed the dismissal of all charges against Mark David Radley, James Warren Summers, Cody Dean Claborn, and Carrie Kienenberger, former employees of a subsidiary of BP America.

This is the result from a claim that of what happened in 2004.

You neglected to include that part:
http://www.justice.gov/criminal/vns/caseup/radleym.html

Now please, take your thread hijacking somewhere else.


31 posted on 01/08/2013 9:40:46 AM PST by thackney (life is fragile, handle with prayer)
[ Post Reply | Private Reply | To 28 | View Replies ]

Free Republic
Browse · Search
News/Activism
Topics · Post Article


FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson