Electric Utility First Energhy settled a Securities and Exchange Commission investigation and will pay a $100 million civil penalty. The agency said the company participated in a “multi-year political corruption scheme,” made misrepresentations to investors and failed to disclose material related-party transactions.
In 2021, FirstEnergy agreed to pay $230 million to resolve charges that it was involved in a bribery scheme to pass a state bailout of nuclear power plants in Ohio. In August, it reached an agreement to resolve proceedings with the Office of the Ohio Attorney General and the Office of the Summit County Prosecutor.
Jeff Newman JD MBA, represents whistleblowers nationwide relating to Medicare and Medicaid fraud, under the state and federal False Claims Act (Qui Tam) laws as well as whistleblowers in major claims under the SEC, CFTC and FINCEN whistleblower programs. He can be reached at Jeff@JeffNewmanLaw.com or at 617-823-3217
