Ex-trader charged in power manipulation

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Wednesday, June 4, 2003 | 9:50 a.m.

HOUSTON -- Federal authorities on Tuesday arrested a former senior trader with Enron Corp., charging him in a criminal complaint with manipulating the California power market during the state's energy crisis two years ago.

The trader, John M. Forney, was arrested at the offices of American Electric Power in Columbus, Ohio, where he now works.

The charges in the complaint, which include conspiracy and wire fraud, stem from a series of trading strategies with names like Death Star and Ricochet that Enron used during the power crisis and that critics say manipulated the system to the detriment of consumers.