Former SCANA CEO pleads guilty to fraud charges in connection with VC Summer project
COLUMBIA, S.C. (WIS) - Kevin Marsh, the former chief executive officer of SCANA, pleaded guilty on Tuesday to fraud charges in connection to the failed VC Summer project in Fairfield County.
Marsh agreed to waive indictment and arraignment as part of his plea agreement. In addition, Marsh is expected to work with law enforcement agencies by providing information about illegal activities tied to the failed nuclear power project.
- Federal lawsuit: Utility execs collected big bonuses as V.C. Summer collapsed
- Engineer testifies: SCE&G used ‘deception’ while racking up costs on failed VC Summer project
- SCANA CEO admits SCE&G deserves to take accountability for VC Summer Failure
- SCANA, SCE&G settles $2 billion class-action lawsuit in failed V.C. Summer project
- Former SCANA executive involved in failed nuclear project pleads guilty in federal court
Marsh and Byrne were each charged by the Securities and Exchange Commission in February with defrauding investors by making false and misleading statements about the VC Summer project.
Under the plea agreement, Marsh could be sentenced to serve 18 to 36 months in prison. Marsh has also agreed to pay $5 million in restitution.
Copyright 2020 WIS. All rights reserved.