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FirstEnergy Pays $ 230 Million to Settle Ohio Bribery Case | National

Cincinnati (AP) —Federal authorities have settled Akron-based FirstEnergy Corp. to seek full cooperation and a $ 230 million fine as part of a full-scale bribery program. He states that he has agreed.

The Federal Bureau of Investigation in Cincinnati and the FBI will hold a press conference on the postponed prosecution agreement late Thursday morning.

As part of an arrangement to end the government’s prosecution, FirstEnergy will announce all relevant election contributions within 30 days, pay a $ 230 million fine and prevent future corporate misconduct. I agree to continue with the intended drastic internal changes.

Earlier this year, FirstEnergy officials announced that they were in talks with prosecutors about the deal, which could impact the company’s bottom line.

The company has been blamed by the authorities Secretly fund a $ 60 million bribery scheme To help win the legislative passage of a $ 1 billion bailout for two wholly owned nuclear power plants when the bill is passed in July 2019.

Last year, FirstEnergy fired six senior executives, including CEO Chuck Jones.

The· Jones dismissalInitially denied fraud by the company, but seems to have led to FirstEnergy’s $ 4.3 million payment in January 2019, many years with a person soon appointed to Ohio’s highest utility regulator. It is said that the consulting contract will be terminated.

There is no dispute that the regulator was Sam Randazzo, an experienced utility lawyer and lobbyist, who was appointed by DeWine as chairman of the Public Utility Commission in Ohio in February 2019.

The wording of the loan document submitted by the company that month suggested that Randazzo helped the company after becoming chairman of PUCO.

Neither Jones nor Randazzo have been charged.

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FirstEnergy Pays $ 230 Million to Settle Ohio Bribery Case | National

Source link FirstEnergy Pays $ 230 Million to Settle Ohio Bribery Case | National

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