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US regulator doles out Enron fines

The US Commodity Futures Trading Commission (CFTC) has hit Enron and its former trader Hunter Shively with $35 million and $300,000 in civil fines respectively for gas price manipulation.

The commission alleged that on July 19, 2001, Shively and Enron engaged in a manipulative scheme by using the Houston company's former electronic trading platform to buy an extraordinarily large amount of gas in a short time.

It also alleged that immediately after the buying spree, Shively took various actions, including agreeing to cover trading losses of other traders involved in the scheme

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