Marsh admitted to conspiracy to commit mail and wire fraud in federal court in Columbia, South Carolina, U.S. prosecutors said in a statement. He had already pleaded guilty to other charges in connection with the failed effort to build nuclear reactors in the state.
Under a plea deal with the government, Marsh agreed to cooperate in ongoing investigations relating to the failed V.C. Summer nuclear station and to forfeit $5 million, prosecutors said.
Besides the criminal charges, the
The updates let the company line up more than $1 billion in financing for the project before it was eventually abandoned in 2017 after costs soared to more than $20 billion. The plant was slated to be built about 30 miles (50 kilometers) northwest of Columbia, the state’s capital. Scana, once a Fortune 500 company, was acquired by
“Today’s plea shows that no one, not even a Fortune 500 CEO, is above the law,” Peter McCoy, U.S. Attorney for the District of South Carolina, said in the statement. U.S. District Judge
Prosecutors claim Marsh knew as early as 2016 that
It’s not the first time utility executives have run afoul of legal requirements demanding they tell the truth about their companies. Former
(Updates with quote from U.S. Attorney in fifth paragraph)
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