By Sabela Ojea
Exelon said it fully cooperated with the Securities and Exchange Commission over the course of a fraud investigation regarding its businesses in Illinois.
The public utility company on Thursday said it agreed to pay a $46.2 million civil SEC penalty to cease and desist from committing or causing any future violations of federal securities laws.
The SEC charged Exelon, its subsidiary Commonwealth Edison Company and former Commonwealth Edison Chief Executive Anne Pramaggiore with fraud over a multi-year scheme “to corruptly influence and reward” former Illinois House Speaker Michael Madigan.
The charges against Pramaggiore will be litigated, according to the SEC.
Write to Sabela Ojea at [email protected]
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