Feds seize records from Ohio utility tied to bailout, corruption scandal
An Ohio utility announced Tuesday it’s cooperating with a federal subpoena seeking records related to a massive bailout to coal and nuclear plants that’s now at the center of a public corruption prosecution.
American Electric Power — the largest shareholder in a cooperative that owns two coal-fired plants that will receive an estimated $700 million via the bailout legislation — said it is “cooperating fully” with a subpoena from the U.S. Securities and Exchange Commission.
“AEP recently received a subpoena from the Securities and Exchange Commission, Division of Enforcement (SEC) seeking various documents, including documents relating to the benefits to the company from the passage of H.B. 6 and documents relating to our financial processes and controls,” the company said in a statement.
Former House Speaker Larry Householder, his political strategist Jeff Longstreth, and lobbyists Neil Clark, Matt Borges and Juan Cespedes were indicted last summer. Longstreth and Cespedes pleaded guilty. Borges and Householder have maintained their innocence.
Read more: https://ohiocapitaljournal.com/2021/06/10/feds-seize-records-from-ohio-utility-tied-to-bailout-corruption-scandal/