Bail denied for two oil traders indicted
HOUSTON
Clyde Meltzer of Houston and Bernard Langley of the United
Kingdom pleaded not guilty Wednesday. Both have been in federal
detention since Dec. 9.
Magistrate Judge Mary Milloy denied bail, saying Meltzer and
Langley could be flight risks.
The Houston Chronicle reported Thursday that the scheme alleged
in the indictment involved overcharging chemical company
LyondellBasell for the cost of shipping oil via tankers.
The 12-count indictment includes charges of conspiracy to commit
wire and mail fraud, wire fraud, conspiracy to commit international
money laundering and money laundering.
A LyondellBasell spokesman had no comment. A LyondellBasell
employee is cooperating in the investigation.
