CFTC Fines Gas Trader For Price Manipulation

Law360, New York (March 23, 2007, 12:00 AM EDT) -- To the tune of $60,000, the Commodity Futures Trading Commission has settled claims that a trader tried to manipulate natural gas prices by supplying false reports to commodity indexes.

The CFTC said Thursday that the Colorado District Court entered a consent order this week settling the charges with gas trader Andrew Richmond. On top of the fine, Richmond has been permanently barred from directly or indirectly trading in commodities and has been prohibited from applying for registration with the National Futures Association.

CFTC enforcement director Gregory...
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