FERC levies $30M fine on Amaranth trader for manipulating prices

04/22/2011 | Wall Street Journal, The

The Federal Energy Regulatory Commission fined a natural gas trader $30 million, the largest civil penalty it has ever levied, for manipulating prices. Brian Hunter's trades led to the failure of Amaranth Advisors in 2006. The commission said Hunter "sold significant numbers of futures contracts" when the market was vulnerable "with the intent to depress prices and financially benefit his significant derivative positions held on other platforms."

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