Utility ordered to pay $100 million for its role in Ohio bribery scheme
Associated Press
An Ohio-based energy company at the center of a $60 million bribery scheme has been ordered by the U.S. Securities and Exchange Commission to pay a $100 million fine. The SEC said Thursday that Akron-based FirstEnergy Corp. misled investors about its role in the scandal. According to the SEC, the company violated antifraud provisions by misrepresenting its role in the scheme and failing to disclose related payments. FirstEnergy’s CEO says the company is pleased it reached a settlement with the SEC. The action comes a month after FirstEnergy agreed to pay $20 million to avoid criminal charges.
