Former Texas natgas trader pleads guilty in $7.9m fraud case

07 February 2011 22:58  [Source: ICIS news]

HOUSTON (ICIS)--A former natural gas trader in Houston pleaded guilty to two counts of wire fraud, part of a scheme to defraud companies out of $7.9m (€5.8m), the US Attorney's Office said on Monday.

The trader, Stephanie Roqumore, admitted that from March 2002 through April 2010, she made phony financial statements to defraud 12 natural-gas trading companies, the attorney's office said.

At the time, Roqumore owned the companies Gas Energy Management; Gas American Resources; and Resource American Energy, the office said.

In addition to pleading guilty, Roqumore has agreed to forfeit more than $4.8m in proceeds, the office said.

Roqumore's sentencing is scheduled for 9 May, the office said.

Each count of wire fraud carries a maximum penalty of 20 years in prison and $250,000 in fines.

($1 = €0.74)

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By: Al Greenwood
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