HOUSTON (Reuters) - Three former El Paso Corp
U.S. District Judge Melinda Harmon scheduled sentencing for May 23.
Each man also could receive up to five years in prison on each false reporting and wire fraud count of which he was convicted - 44 for Brooks, 22 for Walton and 20 for Phillips.
"It's a victory for the integrity of the marketplace," Assistant U.S. Attorney Belinda Beek said.
Brooks, who was the boss of the trading operation, was convicted on 45 of 49 counts in the indictment, trader Walton 23 counts and trader Phillips 21.
Defense lawyers argued that, while e-mails and other evidence made defendants look bad, the reporting system was flawed and defendants had no criminal intent.
Since the market manipulation was uncovered, laws and systems have changed to limit trader ability to influence prices.