An energy company at the center of a $60 million bribery scheme in Ohio has been ordered by the U.S. Securities and Exchange Commission to pay a $100 million...
An energy company at the center of a $60 million bribery scheme in Ohio has been ordered by the U.S. Securities and Exchange Commission to pay a $100 million civil penalty for misleading investors about its role in the scandal.
It said in a cease and desist order that the utility’s former CEO made a “series of misrepresentations to investors” in a news release and later during a July 2020 earnings conference call.The bribery scheme, which has already resulted in a lengthy prison sentence for a former Ohio House speaker, centered on FirstEnergy's efforts to convince state lawmakers to pass a $1 billion bailout of two of its affiliated nuclear plants and defend the bill from a repeal effort.
Two former FirstEnergy executives were indicted in April as part of the long-running investigation: CEO Chuck Jones and Senior Vice President Michael Dowling, both of whom wereAnother man who was charged alongside them, Sam Randazzo, former chair of the Public Utilities Commission of Ohio, pleaded not guilty infor his role in orchestrating the scheme, and lobbyist Matt Borges, a former chair of the Ohio Republican Party,...
Ohio Political Corruption Scheme Securities And Exchange Commission Larry Householder Misleading Investors Bribery
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