FirstEnergy to Pay $ 230 Million in Settlement in Ohio Corruption Case
CINCINNATI (AP) – Federal officials say Akron-based FirstEnergy Corp. has agreed to a settlement that calls on the company to cooperate fully and pay a fine of $ 230 million.
The US attorney’s office in Cincinnati and the FBI are scheduled to hold a media availability later Thursday morning on the deferred prosecution agreement.
FirstEnergy officials announced earlier this year that they were in talks with prosecutors over the deal and that it could affect the company’s revenue.
The company has been accused by the authorities of secretly funding a $ 60 million corruption program to help secure legislative passage of a billion dollar bailout for two nuclear power plants operated by a wholly owned subsidiary when the bill passed in July 2019.
Last year, FirstEnergy fired six senior executives, including CEO Chuck Jones.
the Jones’ dismissal, who initially denied any wrongdoing on the part of the company, appeared to be linked to a $ 4.3 million payment that FirstEnergy made in January 2019, supposedly to end a long-standing consulting contract. date with someone soon to be named Ohio’s premier utility regulator.
There is no doubt that the regulator was Sam Randazzo, a veteran public services lawyer and lobbyist, whom DeWine appointed chairman of the Ohio Public Services Commission in February 2019.
Wording on a loan document filed by the company that month suggested that Randazzo had helped the company after he became president of PUCO.