Forecast costs of Canada’s arctic natural gas pipeline project have jumped 116% and the beleaguered scheme’s sponsors have pushed the target date for starting deliveries back at least three years.
Scheme
Articles from Scheme
U.S. Attorney Drops Four-Year-Old PBR Rate Probe of Nicor
Putting to rest at least part of its concern related to its failed performance-based rate (PBR) scheme that ran from 2000 through 2002, Naperville, IL-based Nicor Inc. announced that it has been advised by the U.S. Attorney for the Northern District of Illinois that the government is closing its inquiry and will not seek to prosecute the company or any individuals in connection with the ill-fated plan.
U.S. Attorney Drops Four-Year-Old PBR Rate Probe of Nicor
Putting to rest at least part of its concern related to its failed performance-based rate (PBR) scheme that ran from 2000 through 2002, Naperville, IL-based Nicor Inc. announced Tuesday that it has been advised by the U.S. Attorney for the Northern District of Illinois that the government is closing its inquiry and will not seek to prosecute the company or any individuals in connection with the ill-fated plan.
Ex-El Paso Trader Sentenced to Two Years in Prison
One of the first ex-energy traders to be indicted for taking part in a scheme to manipulate natural gas prices by reporting false information to industry publications was sentenced Thursday to two years in prison.
Cinergy Pays CFTC $3M to Settle False Price Reporting Charges
Cinergy Marketing & Trading LP paid $3 million to the Commodity Futures Trading Commission (CFTC) on Tuesday to settle allegations that it falsely reported information and natural gas prices to energy trade publications.
Cinergy Pays CFTC $3M to Settle False Price Reporting Charges
Cinergy Marketing & Trading LP paid $3 million to the Commodity Futures Trading Commission (CFTC) on Tuesday to settle allegations that it falsely reported information and natural gas prices to energy trade publications.
Former Enron Power Trader Forney Pleads Guilty
John M. Forney, architect of the “Death Star” power trading scheme and manager of the real-time trading on Enron’s West Desk in Portland, OR, pleaded guilty Thursday to conspiracy to commit wire fraud for the purpose of manipulating California’s energy markets, according to an announcement by the United States Attorney for the Northern District of California.
Enron Task Force Nets Three Former Merrill Lynch Execs
Three former Merrill Lynch financial executives involved in a scheme to help Enron Corp. create sham profits in 1999 surrendered to the FBI in Houston last Wednesday. The Department of Justice (DOJ) alleges that the three violated criminal law, aided and abetted Enron’s violation of criminal law and knowingly caused others to make false statements to a grand jury, the U.S. Congress, the Securities and Exchange Commission (SEC) and the Enron bankruptcy examiner.
Enron Task Force Nets Three Former Merrill Lynch Execs
Three former Merrill Lynch financial executives involved in a scheme to help Enron Corp. create sham profits in 1999 surrendered to the FBI in Houston on Wednesday. The Department of Justice (DOJ) alleges that the three violated criminal law, aided and abetted Enron’s violation of criminal law and knowingly caused others to make false statements to a grand jury, the U.S. Congress, the Securities and Exchange Commission (SEC) and the Enron bankruptcy examiner.
Canadian Mounties Probe Ex-Energy Trader’s Role in Alleged Money Laundering Scheme
Alberta, Canada’s Justice Department said last Wednesday that it has been cooperating with a Royal Canadian Mounted Police investigation into allegations that an ex-trader with Merrill Lynch & Co.’s energy trading arm laundered $42 million of funds stolen from the investment firm through a Canadian offshore banking company.