Two former executives of FirstEnergy Corp. have been indicted by a federal grand jury on charges related to a racketeering conspiracy. Charles E. Jones, 69, from Akron, and Michael Dowling, 60, from Massillon, are accused of participating in schemes involving bribery, money laundering, and obstruction to boost the company's stock price and benefit themselves.
Jones held various senior executive roles at FirstEnergy from 2015 until his dismissal in 2020. His compensation during this period was around $65 million, with $60 million linked to performance-based incentives tied to the company's stock value. Dowling served as Senior Vice President until his termination in 2020.
The indictment outlines their alleged involvement in bribing former Ohio House Representative Larry Householder and ex-PUCO Chairman Samuel Randazzo. Between 2017 and March 2020, FirstEnergy reportedly funneled over $59 million to Generation Now, a 501(c)(4) entity associated with Householder. The funds were used to secure Householder's position as Speaker of the House and support the passage of House Bill 6—a nuclear plant bailout favoring FirstEnergy.
Additionally, Jones and Dowling allegedly used another entity called Energy Pass-Through for similar purposes. They purportedly sought favorable appointments within the state public utilities board, including Randazzo as PUCO Chairman. In January 2019, FirstEnergy paid more than $4.3 million to companies owned by Randazzo for beneficial official actions.
U.S. Attorney Kenneth L. Parker emphasized ongoing efforts to hold individuals accountable for their actions against Ohioans: "This indictment is yet another step in the direction of that accountability." FBI Special Agent Elena Iatarola highlighted the severity of the alleged conspiracy: "This alleged $60 million racketeering conspiracy defrauded Ohioans to enrich the defendants."
The charges carry potential penalties of up to 20 years in prison if convicted.
Deputy Criminal Chief Emily N. Glatfelter and Assistant U.S. Attorney Matthew C. Singer are prosecuting the case for the United States.
An indictment contains allegations; all defendants are presumed innocent unless proven guilty in court.