Dallas News: El Paso Corp. employees investigated for price manipulation, sources say
“$250 million in penalties, including $20 million from Houston-based El Paso and $30 million from Coral Energy Resources, a Houston-based trading subsidiary of Shell.”
Associated Press
Posted 14 August 04
HOUSTON – A grand jury investigation into natural gas price manipulation reportedly targets as many as 10 former El Paso Corp. employees.
Sources familiar with the investigation told the Houston Chronicle in Wednesday’s editions that the former gas traders and supervisors of the nation’s largest natural gas pipeline company received target letters from the U.S. Attorney’s Houston office informing them they may face charges of commodity price manipulation, conspiracy and wire fraud.