Pleads

A habitual securities violator and the former president of an oil and gas company pleaded guilty to six counts of mail fraud related to a ponzi-like scheme in which they paid dividends to existing Texon Energy Corp. investors with money raised from new investors, the Securities and Exchange Commission said Wednesday.

A habitual securities violator and the former president of an oil and gas company pleaded guilty to six counts mail fraud related to a ponzi-like scheme in which they paid dividends to existing Texon Energy Corp. investors with money raised from new investors, the Securities and Exchange Commission said Wednesday.

Dan Gordon, 27, who once headed Merrill Lynch’s global energy markets group and then went on to run the unit when it was sold to Allegheny Energy last year, on Friday pleaded guilty to criminal charges of money laundering, wire fraud and conspiracy to falsify books and records.

Todd Geiger, the former El Paso Corp. natural gas trader accused of reporting bogus data to an energy trade publication in an attempt to manipulate gas price indexes, pleaded guilty Thursday to one count of false reporting and agreed to cooperate with the federal prosecution. In exchange for the guilty plea, one wire fraud count was dropped against him.

Todd Geiger, the former El Paso Corp. natural gas trader accused of reporting bogus data to an energy trade publication in an attempt to manipulate gas price indexes, pleaded guilty Thursday to one count of false reporting and agreed to cooperate with the federal prosecution. In exchange for the guilty plea, one wire fraud count was dropped against him.

David Delainey, the former CEO of Enron North America and Enron Energy Services, last week agreed to plead guilty in connection with criminal charges brought by the U.S. Department of Justice. Delainey, who apparently will cooperate in the continuing investigation, also settled Securities and Exchange Commission (SEC) allegations without admitting or denying any wrongdoing in manipulating his former company’s earnings statements.

David Delainey, the former CEO of Enron North America and Enron Energy Services, Thursday agreed to enter a guilty plea in connection with criminal charges brought by the U.S. Department of Justice. Delainey, who also agreed to cooperate with the continuing investigation, also settled Security and Exchange Commission (SEC) allegations without admitting or denying any wrongdoing in manipulating his former company’s earnings statements.

Soaring gas prices in two of the last three winters have prompted the Citizens Utility Board (CUB) in Illinois to call for state regulatory action to encourage the state’s utilities to improve their risk management practices.

Soaring gas prices in two of the last three winters have prompted the Citizens Utility Board (CUB) in Illinois to call for state regulatory action to encourage the state’s utilities to improve their risk management practices.