Former SCANA CEO to enter guilty plea for conspiracy to commit mail and wire fraud next week

South Carolina News

FILE – In a Sept. 21, 2016 file photo, Kevin Marsh, CEO of SCANA Corp., speaks to the media at the V.C. Summer Nuclear Station near Jenkinsville, S.C. The Securities and Exchange Commission sued SCANA Corp., its subsidiary South Carolina Electric & Gas along with the utility’s former CEO Kevin Marsh and Executive Vice President Stephen Byrne on Thursday, Feb. 27, 2020. Federal officials say two former executives at a South Carolina utility, former CEO Kevin Marsh and Executive Vice President Stephen Byrne lied repeatedly to regulators and investors about the progress of construction of two nuclear reactors, taking hundreds of millions of dollars out of the pockets of investors and ratepayers. (AP Photo/Chuck Burton, File)

Correction: An earlier version of this story stated the information came from the Attorney General’s Office. That information has been corrected.

COLUMBIA, S.C. (WCBD) – Former SCANA CEO Kevin Marsh is expected to enter a guilty plea for conspiracy to commit mail and wire fraud next week.

Marsh, who also chaired the company’s Board of Directors, was supposed to enter the plea back in December but the case was postponed.

US Attorney for the District of South Carolina, Peter McCoy, announced on Wednesday that the hearing will take place on February 24th at 10:00 a.m.

Authorities say Marsh helped lead a cover-up of the financial trouble that jeopardized the nuclear reactor project north of Columbia.

SCANA, and partner Santee Cooper, abandoned the VC Summer project more than three years ago.

The utility raised rates nine times, with the permission of state regulators, to help pay for the reactors, even though they knew the project was doomed.

It added up to customers paying more than $2 billion toward the now-failed project.

$500 million of that was used to pay dividends to shareholders.

The hearing will take place inside the Matthew J. Perry Federal Courthouse in Columbia.

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