It looks like the collapse of SemGroup, the oil traders who filed for bankruptcy after losing $2.4 billion, may wind up getting prosecuted as a criminal matter. We already knew the SEC was looking into the company's cash-flow problems. Now the Associated Press is reporting that the US Attorney's office in Oklahoma City is bringing SemGroup executives before a grand jury. We hear the FBI has been poking around, as well.
Exactly what caused SemGroup to collapse is still something of a mystery. It's widely believed that SemGroup had huge short positions in oil futures but the size of its losses has many speculating that there may be something more complex going on.
SEC, US attorney investigating SemGroup [Associated Press]
Posted by guest , Jul 25, 2008 10:35AM
The "stadium name" jinx sank them.
Posted by guest , Jul 25, 2008 10:52AM
KNEW NOT NEW!!
KNEW NOT NEW!!KNEW NOT NEW!!
KNEW NOT NEW!!KNEW NOT NEW!!
KNEW NOT NEW!!KNEW NOT NEW!!
KNEW NOT NEW!!KNEW NOT NEW!!
KNEW NOT NEW!!KNEW NOT NEW!!
KNEW NOT NEW!!KNEW NOT NEW!!
KNEW NOT NEW!!KNEW NOT NEW!!
KNEW NOT NEW!!KNEW NOT NEW!!
KNEW NOT NEW!!KNEW NOT NEW!!
KNEW NOT NEW!!KNEW NOT NEW!!
KNEW NOT NEW!!KNEW NOT NEW!!
KNEW NOT NEW!!KNEW NOT NEW!!
KNEW NOT NEW!!
Posted by guest , Jul 25, 2008 11:45AM
another JA victim?
Posted by guest , Jul 25, 2008 11:56AM
@2, We new you were new around here... its to bad your a worthless copy editor and not a BSD...
Go back to polishing Rupert's balls...