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Dynegy to Settle Fraud Charges with SEC; New Concerns over Gas Data Arise.
Knight Ridder/Tribune Business News, September, 2002
By Laura Goldberg, Houston Chronicle Knight Ridder/Tribune Business News
Sep. 25--Hours after resolving one mess by settling federal fraud charges, Dynegy on Tuesday night disclosed a separate problem related to energy trading likely to cause it new woes.
Houston-based Dynegy agreed to pay $3 million to settle Securities and Exchange Commission fraud charges related to sham energy trades and accounting of a natural gas deal known as Project Alpha.
Dynegy didn't admit or deny the SEC's findings or allegations. Closing this investigation is just one in a number of hurdles the troubled company must clear in its turnaround attempt.
By early evening, Dynegy dropped another problem into the mix.
Dynegy said it discovered...
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