Friday, December 9, 2005

Mistrial Declared in Fraud Trial of Duke Energy Trader

The trial of former Duke Energy trader Timothy Kramer ended with a hung jury on the 12 remaining charges of fraud related to the alleged submission of inflated prices for power and gas trades by the company in 2001 and 2002.  Earlier, Kramer and fellow trader Todd Reid were acquitted of charges, with the jury returning a not guilty verdict on all counts against Reid and seven of the charges against Kramer.  The court gave the government until Jan. 10 to decide whether to retry Kramer on the 12 counts.  A Houston Chronicle story (here) discusses the verdict. (ph)

Fraud, Prosecutions, Verdict | Permalink

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