SEC Charges Exelon and Former CEO in Madigan Scandal
Exelon Corp., the parent company of Commonwealth Edison (ComEd), has agreed to pay $46.2 million in penalties as part of a settlement with the Securities and Exchange Commission (SEC) over a fraud scheme to influence and reward former Illinois House Speaker Michael Madigan. The SEC also charged former ComEd CEO Anne Pramaggiore with bribery-related charges. Pramaggiore, who was already convicted in the "ComEd Four" corruption case, will face litigation for the new charges. The penalties come after ComEd's deferred prosecution agreement in July 2020, which included a $200 million fine. The SEC complaint alleges that Pramaggiore participated in the bribery scheme and misled investors about ComEd's lobbying activities.