Aurelian Resources Was Stolen By Kinross and Management But Will Not Be Forgotten

The company whose shareholders were better than its management

Free
Message: Manipulation

Manipulation

posted on Jul 24, 2008 07:29AM

If only Canadian regulators had some balls.

Copied this article from globe online:

NEW YORK (CNNMoney.com) -- The government charged an oil trading firm Thursday with manipulating oil prices, the first indictment to come down since the regulators began a new investigation into wrongdoings in the energy markets.

The Commodity Futures Trading Commission charged Optiver Holding, two of its subsidiaries, and three employees, with manipulation and attempted manipulation of crude oil, heating oil and gasoline futures on the New York Mercantile Exchange.

The CFTC said the firm attempted to 'bang the close' by amassing large positions just before markets closed, forcing prices up, then selling them quickly, driving down prices and pocketing the difference.

The complaint names defendants Christopher Dowson (head trader of Optiver), Randal Meijer (head of trading and supervisor of Optiver and Optiver VOF) and Bastiaan van Kempen (Chief Executive Officer of Optiver)



Think this could be happening here in the great white north.... you bet your bippee!!

Share
New Message
Please login to post a reply