Former SCANA CEO pleads guilty to fraud charges in connection with VC Summer project

Former SCANA CEO pleads guilty to fraud charges in connection with VC Summer project
Kevin Marsh, CEO of SCANA Corp., speaks to the media at the V.C. Summer Nuclear Station near Jenkinsville, S.C., during a media tour of the facility Wednesday, Sept. 21, 2016. SCE&G is seeking a 3.1 percent residential raise that would be the largest single rate increase since the utility began charging its 700,000 customers for the reactors' construction. The hike, which would take effect at the end of November if approved, would be the ninth such increase to pay for the $14 billion reactors since 2009. (AP Photo/Chuck Burton) (Source: AP/AP/Chuck Burton)

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.

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Marsh retired from SCANA in 2017 along with senior vice president Stephen Byrne following the failure of the V.C. Summer project.

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.

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