24 July 2008

Those Hemp Smoking Europeans Did It


Godless hopheads.

CFTC charges Optiver Holding with manipulation of futures
By Polya Lesova
Last update: 11:19 a.m. EDT
July 24, 2008

NEW YORK (MarketWatch) -- The U.S. Commodity Futures Trading Commission (CFTC) said Thursday that it has charged Optiver Holding BV, a Netherlands-based global proprietary trading fund, two of its subsidiaries, and three employees, with manipulation and attempted manipulation of New York Mercantile Exchange light sweet crude oil, New York Harbor heating oil, and New York Harbor gasoline futures contracts in March 2007. (Perhaps you haven't been keeping up with current events commissioners but energy did a moonshot in 2008 - Jesse)

The CFTC filed the civil enforcement action in the United States District Court for the Southern District of New York against Optiver Holding BV and the other defendants. The complaint alleges that defendants profited by approximately $1 million from their manipulative scheme.