Allegedly

Anadarko Energy Services has accused Mountain Energy Corp., agas marketer in Kansas City, MO, and the company owners ofallegedly defrauding it out of millions of dollars throughnon-payment of natural gas, as well as theft of gas in storage.

Anadarko Energy Services has accused Mountain Energy Corp., agas marketer in Kansas City, MO, and the company owners ofallegedly defrauding it out of million of dollars throughnon-payment of natural gas, as well as theft of gas in storage.

Almost a year after Plains Resources and its subsidiary, PlainsAll American Pipeline L.P., were allegedly involved in”unauthorized trading,” the companies announced yesterday that theyhave reached an agreement in principle for the settlement of twoclass action securities suits. The companies have agreed to payaffected shareholders a total of $29.5 million plus interest forthe unauthorized trading loss disclosed in November 1999.

The Commodity Futures Trading Commission (CFTC) and the U.S.Department of Justice are now after three people for allegedlymisappropriating energy futures trades from Coastal, defrauding thecompany of millions of dollars. Robert C. Rossi joins formerCoastal States Trading Corp. employee Steven G. Soule; and Kyler F.Lunman II, owner of Hold-Trade Inc. (Ltd.) as a respondent in thecase.

American Electric Power Co. Inc. (AEP) has denied charges itcapitalized on the turbulence in the Midwest electricity markets inlate June by allegedly engaging, along with other power marketersin the region, in “abusive price gouging” that contributed topower prices soaring into the thousands of dollars.