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  • MIRANT FINE 12.5 MILLION FOR FAKE TRADE DATA

    12/06/2004 3:33:26 PM PST · by MeneMeneTekelUpharsin · 183+ views
    CBS Market Watch ^ | 6 December 2004 | Stephanie I. Cohen
    WASHINGTON (CBS.MW) -- Mirant Americas Energy Marketing, a subsidiary of Mirant Corp. will pay a $12.5 million civil penalty to settle charges that it tried to manipulate natural gas markets in 2000 and 2001, the Commodity Futures Trading Commission said Monday. From January 2000 through December 2001, Mirant Americas (MIRKQ: news, chart, profile) reported false information on natural gas transactions in order to manipulate indexes compiled by industry newsletters, the CFTC said in its order. The commission also found that between January 2000 and October 2000, Mirant traders located in the West inflated the volumes and prices of trades it...