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Strategies & Market Trends : The coming US dollar crisis
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To: RockyBalboa who wrote (6004)4/8/2008 9:24:55 PM
From: Real Man   of 71475
 
guardian.co.uk

NYMEX trading probe results to be announced

Reuters, Tuesday April 8 2008 (Adds source saying arrests to be announced; arraignment scheduled for former NYMEX board member)

NEW YORK, April 8 (Reuters) - The results of an investigation into trading activity on the floor of The New York Mercantile Exchange will be announced later on Tuesday, according to the Manhattan District Attorney's Office.
A press conference with the Manhattan district attorney and the director of enforcement of the Commodity Futures Trading Commission was scheduled for Tuesday afternoon, the Manhattan District Attorney's Office said in a press advisory. No other details were released.
A source familiar with the case said that arrests would be announced as a result of the probe.
A calendar at State Supreme Court in Manhattan showed that Steven Karvellas, a former board member at NYMEX, was scheduled to be arraigned later Tuesday on criminal charges.
No details of the charges were available.
Karvellas could not immediately be reached for comment.
The CFTC press office in Washington declined comment beyond the press advisory. A NYMEX representative could not immediately be reached.
According to a 2002 NYMEX press release, Karvellas joined the exchange board in 1996. He is no longer listed as an exchange director.
He also had served on the board of governors and executive committee of the Commodity Exchange Inc., which is now part of NYMEX. (Reporting by Martha Graybow and Leslie Gevirtz, editing by Gerald E. McCormick and Dave Zimmerman)
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