Charges Filed Against Ex-Energy Traders (El Paso/Reliant/Dynergy Traders)

HOUSTON -- Five former natural gas traders from three Houston-based companies have been indicted on federal charges of reporting bogus trade data to industry publications, which is used to calculate gas price indexes.

Three men named in indictments unsealed Monday worked at El Paso Corp., where five former traders already have pleaded guilty to reporting fake trades.

In addition, new charges were filed against Michelle Valencia, 34, a former Dynegy Inc. trader, who has a separate, nearly 2-year-old indictment on another set of false reporting charges on hold pending an appeal to the 5th U.S. Circuit Court of Appeals.

Besides Valencia, the indictments announced by U.S. Attorney Michael Shelby in Houston Monday named former El Paso traders Donald E. Burwell, 44; James P. Phillips, 45; and Greg Singleton, 37. All were charged with conspiracy, false reporting and wire fraud.

A former Reliant Energy Inc. gas trader, Jerry A. Futch Jr., 41, was indicted on four counts of making false reports.

http://www.newsday.com/business/nationworld/wire/sns-ap-fake-trades,0,7548601.story?coll=sns-ap-business-headlines