Even though hedge fund Amaranth collapsed in September 2006, the pain caused by billions of dollars in bad bets on natural gas continues.
Platts:
Hedge fund Amaranth's then top natural gas futures trader Brian Hunter violated the anti-manipulation rules of the US Federal Energy Regulatory Commission, a FERC administrative judge said in a ruling released Friday.
As Dow Jones notes, FERC accused Amaranth in 2007 of violating federal antimanipulation regulations in natural-gas futures trades in March, April and May 2006 on the New York Mercantile Exchange. Amaranth paid $7.5 million in a settlement, but Hunter didn't participate.
The Hunter prosecution is the first time FERC has pursued a futures trader and the recent decision faces final approval by the body later this spring.
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See Also:
- Amaranth Tells Investors It Reached An "Amicable" Settlement With CFTC
- Amaranth Reaches Secret Settlement With FERC
- Trader Who Blew Up Amaranth Hedge Fund Gambling On Commodities Again
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