Traders charged in Nymex Illegal Trading Investigation

Karvellas pleaded guilty to securities fraud and tampering with evidence after placing his own natural gas contract trades ahead of his customers, an attempt to profit known as “front-running.”

Former floor broker Thomas Maloney also pleaded guilty, along with two other former floor workers. Three others were arrested and their cases expected to go to trial.

Karvellas and Maloney were both charged with separately diverting profitable transactions to their own accounts that had been filled fo

To continue reading...

You must be signed in to use this feature.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: