randazzo

FirstEnergy deposition looms in shareholder lawsuit for bribery, misleading investors

BY: - April 25, 2022

It has been nine months since FirstEnergy Corp. admitted to federal prosecutors that it bribed Ohio’s top utility regulator and the speaker of the Ohio House. Investors in the electric utility may soon get the chance to ask a few follow-up questions about how the $64 million operation came together. Besides the criminal allegations against […]

Former DeWine aide warned governor about utility regulator before the FBI raided his home

BY: - April 4, 2022

More than two years before FirstEnergy Corp. admitted to paying Ohio’s top utility regulator a $4.3 million bribe, Mike DeWine’s former campaign treasurer warned senior aides to the new governor about the eventual nominee’s “opaque and undisclosed” financial ties to the company. The warning came in a 198-page dossier alleging Sam Randazzo — a lawyer […]

Judge gives lawyers 24 hours to identify FirstEnergy execs who ordered political bribes

BY: - March 22, 2022

Further scuttling a proposed settlement for FirstEnergy’s shareholders, a federal judge demanded their lawyers, within 24 hours, answer his question about which company officials ordered what has been described as the largest political bribery scheme in Ohio history. Both FirstEnergy and its shareholders were on the cusp of a settling the shareholders’ derivative lawsuit, announcing […]

Both FirstEnergy and its shareholders seek secrecy around company’s bribes

BY: - March 18, 2022

Both FirstEnergy Corp. and its shareholders argued to a federal judge that they shouldn’t be forced to publicly disclose which executives ordered the payment of political bribes that the company admitted to in a related criminal case. The two parties are awaiting judicial approval of a proposed settlement from a derivative lawsuit filed by FirstEnergy’s shareholders. […]

Who paid the bribes? Judge demands answers in FirstEnergy shareholders’ suit

BY: - March 14, 2022

About seven months ago, FirstEnergy, as a company, admitted to federal law enforcement to paying out two, multimillion dollar sets of bribes: one to the former speaker of the Ohio House and one to the state’s top utility regulator. U.S. District Judge John A. Adams — in a hearing Wednesday and a related order Friday […]

Ohio judge withdraws from probes into nuclear bailout he helped write

BY: - March 7, 2022

A state judge who oversees utility cases withdrew himself Friday from four cases involving legislation now at the center of a criminal public corruption investigation. Greg Price, an attorney examiner with the Public Utilities Commission of Ohio and chief of the electric and energy section, stepped back from investigations into FirstEnergy Corp. He cited the […]

Ohio judge helped write a bailout that led to arrests; now he’s blocking outside probes

BY: - February 28, 2022

A judge who oversees utility cases was involved in writing a coal and nuclear bailout now at the center of what prosecutors have described as the largest public corruption case in Ohio history, subpoenaed documents show. That same judge, Greg Price, is presiding over multiple regulatory cases in which a government watchdog agency is trying […]

FirstEnergy pushed for ‘cooperative’ utility regulator; DeWine heeded its pick

BY: - February 16, 2022

FirstEnergy executives and two powerful politicians who the company admitted to bribing all unified behind renominating a “very cooperative” incumbent to serve on a key regulatory panel, the company stated in court filings. The filing doesn’t identify the commissioner, but only refers to an “incumbent” and then-current “PUCO official.” Commissioner Lawrence K. Friedeman was the […]

Finalists selected for Ohio utility regulator perch, all with deep energy and utility ties

BY: - February 10, 2022

A nominating council sent a list of four candidates to Gov. Mike DeWine to appoint as a member of the board that regulates Ohio’s public utilities. All four have deep ties to the natural gas and or utility industries, according to a review of their cover letters, resumes, and court records. The nominee would fill […]

FirstEnergy to pay $306 million in refunds in legal settlement

BY: - November 3, 2021

FirstEnergy Corp. has agreed to refund $306 million to customers after the Supreme Court ruled the utility improperly excluded millions in charges from a calculation of whether its profits were “significantly excessive.” The refund traces back to what FirstEnergy called a “distribution modernization rider” (DMR) — about $458 million collected from customers over about 2.5 […]

State regulators made ‘utility-friendly’ edits to audit of coal plant bailout, emails show

BY: - October 4, 2021

Documents show state utility regulators sought edits to draft versions of an audit they commissioned, prompting the removal of declarations that a ratepayer-funded bailout of two uneconomic coal plants was a bad deal for Ohio electric customers. Staff at the Public Utilities Commission of Ohio, which sets customers’ water and electric rates, asked an auditor […]

FirstEnergy said it bribed a regulator for $4.3 million. Here’s how it worked.

BY: - July 29, 2021

FirstEnergy admitted in court documents last week it paid the state’s top utility regulator $4.3 million to use his perch to save the company hundreds of millions via friendly administrative rulings. The company’s allegation against Sam Randazzo, former chairman of the Public Utilities Commission of Ohio, came in a deferred prosecution agreement with the U.S. […]