Arkansas Online

Deal reached in energy titan fraud case

— COMPILED BY DEMOCRAT-GAZETTE STAFF FROM WIRE REPORTS

CINCINNATI — The energy giant at the center of a $60 million bribery scheme in Ohio admitted Thursday to new details of its role in the conspiracy as part of a settlement with federal prosecutors, including how it used dark money groups to fund the effort and paid a soon-to-be top utility regulator to write the legislation it got in exchange.

Akron-based FirstEnergy Corp. is charged with conspiracy to commit wire fraud under the deal, acting U.S. Attorney Vipal J. Patel and FBI Special Agent in Charge Chris Hoffman announced at a news conference.

The charge would be dropped if the company complies over three years with a list of required actions in the deal, including paying a $230 million criminal penalty and continuing to fully cooperate with investigators.

The deal comes in a scandal that started since the arrests a year ago of then-Ohio House Speaker Larry Householder and four associates. Government officials say Householder orchestrated a plan to accept corporate money for personal and political use in exchange for passing nuclear bailout legislation and scuttling an effort to repeal the bill.

FirstEnergy is one of the largest investor-owned electric systems in the nation with an annual revenue last year of $10.8 billion. Half of the $230 million penalty will go to the federal government and the other half will be paid to a program that benefits Ohio’s regulated utility customers, Patel said.

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2021-07-23T07:00:00.0000000Z

2021-07-23T07:00:00.0000000Z

https://edition.arkansasonline.com/article/281625308327955

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