US SEC charges CMS officials with making 'round-trip' trades

摘要

The US Securities and Exchange Commission said Mar 17 it has charged CMS Energy and three former CMS executives for engaging in "round-trip" energy trades that inflated corporate revenues by more than US5-bil.The SEC described the practices as "massive,pre-arranged traedes that,desp;ite lacking economic substances,grossly inflated CMS's reported revenues and propelled the company into the upper echelon of the energy trading volume rankings."