Four Former El Paso Traders to Plead Guilty
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Four former El Paso Corp. natural gas traders will plead guilty to criminal charges for reporting bogus trade prices to an industry publication and will cooperate with a federal probe, prosecutors said.
The charges were unveiled in U.S. Magistrate Court in the Southern District of Texas. The four ex-traders -- Christopher Bakkenist, 41, Dallas Dean, 60, Donald Guilbault, 51, and William Ham, 45 -- could each face up to five years in prison and a $500,000 fine for the single count of false reporting.
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