Mirant to pay $12.5 mln in natgas settlement-CFTC

Mon Dec 6, 2004 10:25 AM ET

WASHINGTON, Dec 6 (Reuters) - A unit of bankrupt energy trading firm Mirant Corp. (MIRKQ.PK: Quote, Profile, Research) will pay a $12.5 million civil penalty to settle charges that it gave bogus natural gas price information to publishers, the Commodity Futures Trading Commission said on Monday.

From January 2000 to December 2001, Mirant traders gave "false, misleading and knowingly inaccurate information" to three industry publications, the CFTC said in a release.