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Former Enserco Trader Settles CFTC Suit

Law360 (November 17, 2008, 12:00 AM EST) -- A federal court has ordered former Enserco Energy Inc. gas trader Matthew Reed to pay a $475,000 civil penalty for allegedly reporting false natural gas price and volume information to a trade publication in order to manipulate natural gas prices.

In a consent order entered Thursday in the U.S. District Court for the District of Colorado, Judge Wiley Y. Daniel also enjoined Reed from registering with the Commodity Futures Trading Commission, which filed the civil lawsuit against Reed and others in 2005.

Reed, who also worked...
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