Failed Amaranth Faces $291 Million in Penalties

Failed hedge fund Amaranth Advisors and two traders have been accused of manipulating the natural gas markets by federal regulators and may face $291 million in penalties, according to The New York Times. The Greenwich, Conn.-based hedge fund shuttered its doors last year after it lost $6 billion.

The Federal Energy Regulatory Commission’s action is the first time the group has used the authority Congress granted it two years ago.