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FirstEnergy admits it controlled dark money group started by DeWine aide
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FirstEnergy agrees to pay $230M fine for bribing Ohio officials to bail out two nuclear plants,
Utility Dive, Iulia Gheorghiu July 23, 2021
Dive Brief:
FirstEnergy Corporation announced on Thursday a settlement agreement to pay a $230 million penalty for bribing Ohio officials to ensure the passage of a ratepayer-funded bailout for older generation assets, including two nuclear plants.
The utility cooperated with federal investigators to disclose paying millions through dark money groups to state officials, including former Ohio House Speaker Larry Householder and former Public Utilities Commision of Ohio (PUCO) Chairman Sam Randazzo. The company acknowledged using 501(c)(4) organizations, which are registered lobbying entities, to conceal the nature, source and control of payments in the pursuit of the nuclear legislation……………
Ohio News
Jul 24, 2021
Acting U.S. Attorney Vipal J. Patel, center, accompanied by FBI Special Agent in Charge Chris Hoffman, speaks during a news conference in Cincinnati, Thursday, July 22, 2021. Federal authorities say Akron-based FirstEnergy Corp. would pay a $230 million penalty and fully cooperate as part of an agreement announced Thursday to settle federal charges against the company in a sweeping bribery scheme in Ohio. (AP Photo/Farnoush Amiri)
By MARK GILLISPIE, JULIE CARR SMYTH and FARNOUSH AMIRI Associated Press
CINCINNATI (AP) The energy giant at the center of a $60 million bribery scheme in Ohio admitted Thursday to using dark money groups to fund the effort, and agreed to pay $230 million and other conditions so prosecutors won’t forge ahead with a criminal case against the company.
Akron-based FirstEnergy will pay a $230 million fine for bribing key Ohio officials in a calculated quest to secure a $1 billion ratepayer-funded bailout for two nuclear plants and fend off future rate hikes.
FirstEnergy s fine – while far from the $1.1 billion the company earned last year – is still the largest criminal penalty ever collected, as far as anyone can recall, in the history of this office, acting U.S. Attorney Vipal Patel said Thursday. The penalty surpassed $200 million imposed on Illinois ComEd in 2020.
Read the deferred prosecution agreement below The principle here is trying to come up with a number that stings but doesn’t annihilate, Patel said. In fact, FirstEnergy s stock soared after the three-year deferred prosecution agreement was announced.
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