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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: Broken_Clock who wrote (88021)	7/25/2007 11:12:18 AM
From: ChanceIs	Respond to of 206184

Ex-Amaranth Trader Hunter Charged With Market Manipulation DOW JONES NEWSWIRES By David Weidner NEW YORK (Dow Jones) -- Securities regulators on Wednesday charged former Amaranth Advisers LLC trader Brian Hunter with attempted manipulation of natural-gas futures. The U.S. Commodities Futures Trading Commission also charged that Hunter lied to New York Mercantile Exchange (NMX) officials to cover up the trades. The CFTC said Hunter intended to lower the prices of the NYMEX natural-gas futures contracts to benefit Amaranth's larger swaps positions on Intercontinental Exchange (ICE) and elsewhere. The trades in question occurred on Feb. 24 and April 26 of last year, the commission said. Hunter on Monday sought a temporary restraining order against the Federal Energy Regulatory Commission from bringing civil charges against him. The request argued that FERC did not have the authority to regulate the futures markets, according to the complaint. Amaranth collapsed last fall after losing $6 billion. In May, Amaranth agreed to pay $716,000 to settle charges of violating securities rules. The settlement, with the Securities and Exchange Commission, included a $150,000 civil fine and $566,819 in restitution and interest. The SEC said Greenwich, Conn.-based Amaranth "willfully" violated the rules by improperly covering its short positions on stocks of several companies involved in offerings. Amaranth lost billions after it bet wrongly on natural gas prices and sold assets at a loss to try to stay afloat.