US Attorney in Houston mum on El Paso gas price-reporting probe

Houston (Platts)--11Aug2004

US Attorney Michael Shelby in Houston Wednesday declined to confirm a Houston
Chronicle report than 10 former El Paso Corp natural gas traders and
supervisors are the target of a grand jury probe into gas price manipulation
and wire fraud for reporting false prices to index publishers, including
Platts. The paper said the 10 were notified of their status in letters from
Shelby's office. 

In a statement, Shelby said that "while many of our efforts to fully
investigate allegations of corporate misconduct, particularly concerning the
energy sector, are now matters of public record, federal law strictly
prohibits the disclosure of matters occurring before a grand jury. Our
compliance with these rules serves to preserve the rights of the innocent as
well as those who may be subsequently charged. We will continue to follow the
law so that we can effectively and ethically enforce the law."

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