SEC Says Dominion’s Scana Defrauded Investors in Nuke Plant Flop

Dominion Energy Inc. just got itself another headache from the $7.9 billion takeover of Scana Corp. after the U.S. Securities and Exchange Commission charged Scana with defrauding investors by touting a nuclear project that was never built.

Scana, two of its former top executives and a Scana unit now known as Dominion Energy South Carolina provided investors with misleading updates on the V.C. Summer project that allowed the utility to sell more than $1 billion in bonds and earn a go-ahead from regulators to raise customers’ rates to finance the project, the SEC said in a statement.

The complaint, ...