Former SCANA CEO pleads guilty to federal and state fraud charges
COLUMBIA, SC (WOLO)– The former CEO of SCANA Corporation pleaded guilty to conspiracy to commit mail and wire fraud Wednesday. Kevin Marsh entered the plea in federal court in Columbia.
Marsh was the CEO of SCANA when construction was halted at the VC Summer Nuclear Facility in Fairfield County, costing billions of dollars and thousands of people their jobs.
“Every day, this office protects South Carolinians from criminals of all types,” said U.S. Attorney Peter McCoy. “Our office will always seek justice for those victimized by individuals or entities that misuse positions of trust and responsibility. Today’s plea shows that no one, not even a Fortune 500 CEO, is above the law. Of course, our efforts in this case would not be possible without the support of our federal and state law enforcement partners.”
Officials say Marsh faces a maximum penalty of five years in prison, a fine of up to $250,000 and up to three years of supervised release. According to authorities, the prosecution and Marsh also recommended a $5 million forfeiture.
Marsh also plead guilty to state charges in Spartanburg later in the afternoon. The former CEO plead guilty to obtaining signature or goods by false pretenses over $10,000. Officials say the sentencing for this charge was deferred until after Marsh’s cooperation with the investigation is complete. The crime carries a maximum sentence of up to 10 years in prison.
“This case is a good example of the power of our State Grand Jury and how our office uses it to hold the powerful accountable,” Attorney General Alan Wilson said. “While this criminal proceeding is not meant to repay the customers who spent billions of dollars on nuclear plants that were never finished, we hope they take some comfort from the fact that the former CEO of SCANA has pled guilty for his role in this debacle. A public utility and its officers must serve the public,” Wilson added.