Charges Dropped In Energy Trader's $50M Fraud Suit

Law360, New York (January 6, 2006, 12:00 AM EST) -- The U.S. Attorney's Office in Houston is dropping all remaining charges against a former trading executive at Duke Energy, whose $50 million fraud case ended in a mistrial last month.

Federal prosecutors moved to dismiss the 12 counts against trader Timothy Kramer, which was approved by district judge Nancy Atlas. Kramer had been accused of mail fraud, wire fraud, and seven counts of conspiracy.

Kramer’s co-defendant, former Duke Energy vice president Todd Reid, was also named in the April 2004 lawsuit, filed in the U.S. District...
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