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FirstEnergy Looking To Make Deal With Federal Investigators

FirstEnergy headquarters in Akron
FirstEnergy headquarters in Akron

FirstEnergy executives say they're looking at entering an agreement with federal prosecutors that could avoid criminal charges related to the $61 million bribery investigation.

Steve Strah, FirstEnergy CEO, said the utility company is working on a possible deferred prosecution agreement with the U.S. Department of Justice. He told investors he didn't know details on timing or if it could avoid future consequences.

"I'm encouraged by our dialogue and I'm encouraged that we are certainly going to continue to fully cooperate with the department of justice and I just want to be fully respectful of that process and not get ahead of it at all," Strah said.

FirstEnergy is believed to be the unnamed utility accused of funneling millions of dollars to a dark money group controlled by former House Speaker Larry House to get a nuclear bailout passed.

The company has parted with three executives, including the former CEO, and has paused political spending.

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