Ex-Shell Gas Trader Pleads Guilty Over Role in Scheme
- Shell says it cooperated with cases against Marcus Schultz
- Schultz conspired to profit off fraudulent trades, U.S. says
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A former Royal Dutch Shell Plc natural gas trader in Houston pleaded guilty to a criminal charge related to his role in an illegal scheme that started in 2013 in which he sought to profit by using non-public information obtained from the company.
Marcus Schultz disclosed the information to other traders and brokers in a conspiracy to profit from fraudulent gas futures trades, the Justice Department said in a federal court filing in Houston. His guilty plea was announced earlier this week by the Justice Department.