Monday, August 16, 2010
CFTC fines a former ConAgra unit for pushing up crude oil's price
The Commodity Futures Trading Commission fined a former unit of ConAgra Foods $12 million for driving up the price of crude oil to $100 a barrel. The CFTC said a trader, who was not named, caused a "non-bona fide price" to be posted for the benchmark contract of crude-oil futures. Commodity-trading house Gavilon has since acquired the trading operations of the ConAgra division.
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