CFTC: Amaranth manipulated gas prices
The US Commodity Futures Trading Commission (CFTC) has charged failed hedge fund Amaranth Advisors and its former head trader, Brian Hunter, with trying to manipulate natural gas futures prices.
The CFTC filed a civil enforcement action in the US District Court for the Southern District of New York, alleging that Hunter and Amaranth attempted to manipulate the price of natural gas futures contracts on the New York Mercantile Exchange (Nymex) on February 24 and April 26, 2006.
The legal action
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