FirstEnergy Execs Indicted in Ohio Bribery Scheme

Chuck Jones, former CEO of FirstEnergy, and Michael Dowling, a former senior vice president, have been indicted on federal racketeering charges related to a $60 million bribery scheme in Ohio, marking the first federal charges against those issuing bribes in the case. The scheme aimed to secure a $1 billion bailout for FirstEnergy's nuclear plants, involving payments to a 501(c)(4) entity called Generation Now, which supported the political ambitions of former Ohio House Speaker Larry Householder, who is serving a 20-year sentence for his role. The charges unveiled by a federal grand jury allege that Jones and Dowling participated in activities including bribery, money laundering, and obstruction to boost FirstEnergy’s stock price and for personal gain. Both executives had already faced state-level charges and denied wrongdoing. FirstEnergy had previously agreed to pay $230 million in penalties to avoid federal prosecution and admitted its role in the scandal under a deferred prosecution agreement.