Eight years after the great fisherman, Canadian and hedge fund trader who was thisclose to making a mint on a whole mess of natural-gas contracts but instead wound up losing $6.6 billion and putting an end to a plucky little shop called Amaranth Advisors, Brian Hunter may be appearing in New York federal court to defend his honor against allegations that he planned to make that mint by manipulating the natural gas markets.
To date, no one has gotten their hands on a verified photo of Hunter, although we’re pretty sure he looks like one of the two creatures above.
We may not be any closer to that photo, assuming (a) that Hunter will break from his previous practice in court cases and appear in New York federal court for his CFTC trial and (b) that he has spent months scoping out all of the back entrances and secret passages in the Daniel Patrick Moynihan Courthouse on Foley Square. But if (a) is true, we can at least expect a courtroom sketch of the elusive Calgarian.
CFTC lawyers are preparing to confront Brian Hunter, who oversaw the energy desk of hedge fund Amaranth when it collapsed in 2006, in a federal court in Manhattan on Oct. 6. Hunter, accused of attempted manipulation, has sought to dismiss the case, arguing the court has no jurisdiction and that the CFTC does not have enough evidence against him….
The case against Hunter is particularly important for the CFTC, which has used it as a formal argument to introduce one of its most contested rules, which caps the overall position in futures any one trader can hold.