SACRAMENTO, Aug. 4 (UPI) -- A California energy market intermediary unlawfully held back $20 million from investment bank JPMorgan Chase, the firm said in a regulatory filing.
The California Independent System Operator, which newspapers in the state call a "quasi-state agency," believed it had the authority to withhold funds from JPMorgan Chase, even though a regulatory case against it for energy trading manipulation has yet to reach any conclusions, the Sacramento Bee reported Saturday.