Former Lyondell worker pleads not guilty in trading scheme

Oil traders enter into plea deal with feds over LyondellBasell case

Posted on October 20, 2011 at 1:21 pm by Tom Fowler in Crude oil, Legal issues, People, Social, Transportation

Clyde Meltzer and Bernard Langley pleaded guilty to conspiracy to commit wire fraud as part of a scheme to defraud refiner LyondellBasell out of millions of dollars. More »

Plea deal possible in oil trader case?

Posted on August 29, 2011 at 10:25 am by Tom Fowler in Crude oil, Legal issues, People, Refining, Social

Clyde Meltzer and Bernard Langley are scheduled to go to trial this November for their roles in an alleged oil shipments kickback scheme. A filing from the federal government hints that a plea deal may be in the works for the two men, however. More »

Oil trader Marc Rich may make it to the Big Screen

Posted on July 11, 2011 at 7:55 am by Tom Fowler in General

Marc Rich, the Godfather of modern oil markets may have his story told on the Silver Screen, with famed director/producer Ron Howard close to getting rights to a book about him. More »

Feds file new indictment in oil trader kickback case

Posted on May 27, 2011 at 4:38 pm by Tom Fowler in Chemicals, Crude oil, Legal issues, Social

Prosecutors this week dropped a cooperating witness from charges that several men allegedly bilked refiner LyondellBasell out of tens of millions of dollars, while pulling a New York firm into the scheme as part of money laundering charges. More »

Oil traders accused in kickback scheme may be headed for trial

Posted on April 18, 2011 at 6:19 am by Tom Fowler in Crude oil, People, Social

Legal filings and an e-mail seeking money to pay for one of the men’s defense indicate two traders currently in prison for their roles in a multimillion dollar oil-shipping kickback scheme are preparing for trial. More »

Oil traders’ trial pushed back, Sinatra car auction set for mid-April

Posted on March 28, 2011 at 11:20 am by Tom Fowler in Chemicals, Crude oil, Legal issues, Social

A pair of men accused of bilking LyondellBasell out of $80 million are scheduled for trial on Aug. 8, but filings raise the possibility of a plea deal. Some of the assets seized in the case, including a Caddy once owned by Frank Sinatra, go on the block next month. More »

Cross-dressing Venezuelans, reality TV wannabes and more oil-trader adventures

Posted on March 18, 2011 at 3:32 pm by Tom Fowler in Legal issues, Social

More odd twists to the story of an $80 million oil kickback scheme that has two Houston-area men and a British citizen behind bars. More »

Judge rules Houston oil traders must remain jailed

Posted on February 11, 2011 at 9:44 am by Tom Fowler in Crude oil, Legal issues, Refining

Judge Sim Lake says Clyde Meltzer and Bernard Langley present a flight risk and must stay behind bars pending trial for allegedly bilking LyondellBasell out of millions of dollars. More »

Big homes, cool cars, reality TV stars — the oil traders saga continues

Posted on January 21, 2011 at 1:53 pm by Tom Fowler in Crude oil, General, Legal issues, People, Social

This 1957 Cadillac, once owned by Frank Sinatra, is one of the many items the government says Jonathan Barnes and others purchased with money from a scheme that allegedly overcharged LyondellBasell for oil shipments from Venezuela. (Photo courtesy of Mecum Auctions) More »

Feds move against assets related to oil trader case

Posted on December 27, 2010 at 12:16 pm by Tom Fowler in Legal issues, Real estate

Bellaire home just the latest of several properties that federal investigators say were purchased with proceeds from a kickback scheme. (Photo: HAR.com) More »

Man accused in kickback scheme pleads not guilty

Posted on December 18, 2010 at 12:30 am by chron.com Energy in General

A former LyondellBasell employee accused of taking part in a kickback scheme that may have cost the company more than $80 million pleaded not guilty to related charges in federal court on Friday. Jon Barnes, a former marine chartering manager at Lyond… More »