FirstEnergy to Pay $230 Million in Settlement in Ohio Bribery Case

CINCINNATI—Federal authorities say Akron-based FirstEnergy Corp. has agreed to a settlement that calls for the company to fully cooperate and pay a $230 million fine as part of a sweeping bribery scheme. The U.S. Attorney’s Office in Cincinnati and the FBI are scheduled to hold a news briefing later Thursday morning on the deferred prosecution agreement. As part of the deal to end the government’s prosecution, FirstEnergy agrees to make public all its related campaign contributions within 30 days, to pay a $230 million penalty, and to continue carrying out sweeping internal changes aimed at preventing future corporate misdeeds. FirstEnergy officials announced earlier this year it was in talks with the prosecutors on the agreement and that it could affect the company’s revenue. The company has been accused by authorities of secretly funding a $60 million bribery scheme to help win legislative passage of a $1 billion bailout for two …

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