Regulators Sue BMO Trader Over Gas Options Scheme

Law360, New York (November 18, 2008, 12:00 AM EST) -- The U.S. Commodity Futures Trading Commission and the U.S. Securities and Exchange Commission have sued several individuals for allegedly scheming to inflate the value of Bank of Montreal's natural gas options.

In a complaint filed Tuesday in the U.S. District Court for the Southern District of New York, the CFTC targeted David P. Lee, a former BMO natural gas options trader; his former supervisor Robert B. Moore Jr.; options brokerage Optionable Inc.; and Optionable executives Kevin Cassidy and Edward O’Connor.

In a separate complaint filed the...
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