Unplugging energy scam.(International News)(United States. Commodity Futures Trading Commission)(Coral Energy L.P.)(Brief Article)

Futures (Cedar Falls, Iowa), September, 2004

The CFTC in July settled three more actions charging alleged energy market manipulation and filed an additional case in what seems like a never ending investigation into false price reporting by energy market firms.

Coral Energy Resources LP agreed to pay a fine of $30 million under the CFTC order, which found that Coral delivered incorrect information to price reporting firms with the intent to affect the market price of natural gas. While Coral agreed to the order without admitting or denying its finding, in a statement Coral stated that some traders involved in the matter are no longer with the firm and that Coral will discipline remaining traders if it is determined that they behaved improperly.