Byrne, who served as executive vice president at Scana, entered his plea Thursday in federal court in South Carolina after reaching a deal with prosecutors last month. He could face as long as five years in prison.
According to a statement by prosecutors, the deal requires that Byrne cooperate with the government.
Lawyers for Byrne declined to comment.
“Dominion Energy continues to cooperate fully with state and federal authorities in this ongoing investigation, pursuant to the terms of the cooperation agreement,” the company said in a statement. “We have no further comment regarding this matter or the investigation.”
In a related case, the U.S. Securities and Exchange Commission filed a lawsuit in February alleging Byrne and former Scana Chief Executive Officer
According to the SEC, Byrne and Marsh knew the project was unworkable but publicly touted it in securities filings and earnings calls, enabling the company to increase its stock price, sell $1 billion in corporate bonds and receive regulatory permission to charge its customers more than $1 billion in increased rates to help finance the project.
Marsh’s lawyers didn’t immediately respond to requests for comment.
Scana originally planned to construct two new nuclear units in cooperation with
(Updates with Marsh request for comment)
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