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bribery schemeABC News
•78% Informative
Akron-based FirstEnergy Corp. violated antifraud provisions by misrepresenting its role in the political corruption scheme and failing to disclose related payments, according to the SEC .
It said in a cease and desist order that the utility’s former CEO made a “series of misrepresentations to investors” in a news release and later during a July 2020 earnings conference call.
Action comes a month after FirstEnergy agreed to pay $20 million to avoid criminal charges as part of a deal with state prosecutors.
VR Score
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