Former Enserco Trader Indicted For False Reporting

Law360, New York (May 10, 2007, 12:00 AM EDT) -- A natural gas trader has been indicted for allegedly reporting false natural gas price and volume information to a publication widely used by natural gas market participants to price and settle natural gas transactions.

A Colorado federal grand jury on Wednesday charged Matthew Reed with wire fraud, and aiding and abetting the allegedly pumping-up of Enserco Energy Inc. gas trading numbers to reporters at Gas Daily, which compiles natural gas indexes for the industry.

From May 2000 to June 2002, Reed “knowingly devised and participated in...
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