Christopher Bakkenist, 41, the last of four former El Paso Corp. natural gas traders charged with reporting false data used to calculate the index price of gas, pleaded guilty late Thursday.
Bakkenist admitted during a court hearing in Houston that he reported inaccurate date to Inside FERC Gas Market Report. Bakkenist is scheduled to be sentenced in February.
Three others charged, Donald Guilbault, 51; William Ham, 45; and Dallas Dean, 60; entered guilty pleas earlier in October (see Daily GPI, Oct. 20). The four face up to five years each in federal prison and each may pay up to $500,000 in fines. They will be sentenced in January.
All four also agreed to cooperate with investigators on the continuing investigation.
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