Electric utility company Exelon and its subsidiary Commonwealth Edison agreed to pay $46.2 million as part of a settlement with the Securities and Exchange Commission (SEC) related to their Illinois bribery and lobbying scandal that previously earned ComEd a deferred prosecution agreement (DPA) with the Department of Justice (DOJ).
Exelon and ComEd were charged with fraud by the SEC for corruptly influencing former Illinois House Speaker Michael Madigan, which the companies admitted to in agreeing to pay $200 million as part of their settlement with the DOJ in 2020. The purpose of the bribes, which occurred between 2011 through 2019, was to influence and reward Madigan’s efforts to assist ComEd regarding legislation concerning the company and its business.
