COLUMBIA, S.C. (WCBD) – A guilty plea is expected Tuesday from former SCANA CEO Kevin Marsh.
Authorities say he helped lead a cover-up of the financial trouble that jeopardized the nuclear reactor project north of Columbia.
SCAN, and partner Santee Cooper, abandoned the VC Summer project more than three years ago.
Officials with the South Carolina Attorney General’s Office say Marsh will plead guilty to a state charge of obtaining signature or property by false pretenses.
Marsh is also expected to plead guilty in federal court on that same day to charges of mail and wire fraud.
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.
