Coral Energy Traders Settle False-Reporting Claims

Law360, New York (November 9, 2007, 12:00 AM EST) -- Five former Shell Trading Gas and Power Co. traders have agreed to pay $1 million and not to trade in energy-related markets to settle claims that they falsely reported natural gas prices to boost profits for Coral Energy Resources LP.

U.S. District Judge Kenneth M. Hoyt entered a consent order on Wednesday, which settles the U.S. Commodity Futures Trading Commission's claims against Denette Johnson, Courtney Cubbison Moore, Robert Harp, John Tracy and Kelly Dyer.

Another former Shell trader, Anthony Dizona, is the lone remaining defendant in...
To view the full article, register now.

Law360 UK

UK Financial Services

Read Our Latest UK Legal News & Analysis

Financial Services Law360 UK and Insurance Law360 UK provide breaking news and in-depth analysis on U.K. and European Union regulation, enforcement, legislation, and litigation involving banks, investment firms, insurers, and more.