Charles Jones, FirstEnergy’s CEO from 2015-2020, and Michael Dowling, a former vice president of external affairs at the company, and Samuel Randazzo, a former chairman of Ohio’s Public Utilities Commission, have been indicted in a multimillion-dollar public corruption scandal, Ohio Attorney General Dave Yost said on Monday. Two companies controlled by Randazzo – the Sustainability Funding Alliance of Ohio and IEU-Ohio Administration Co. – are also named in the filing. Both are alleged to be shell companies created solely for furthering Randazzo’s alleged criminal activity. Jones and Dowling are accused of paying Randazzo more than $4.3M to allow the company to overcharge customers, among other offenses.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on FE:
- FirstEnergy price target lowered to $40 from $41 at UBS
- Early notable gainers among liquid option names on February 9th
- FirstEnergy Shares Strategic Insights in Investor Update
- FirstEnergy Announces Fourth Quarter and Full Year 2023 Financial Results
- FirstEnergy sees FY24 EPS $2.61-$2.81, consensus $2.68
