Spartanburg, SC (WSPA) – South Carolina state judge sentenced former CEO of a failed nuclear plant, to two years in prison as part of a plea deal. Monday’s hearing follows last week’s federal sentence.
That two year sentence hangs in the shadow of a 10-year sentence that former CEO Kevin Marsh could face if he doesn’t cooperate with investigators.
Monday’s sentence is only a piece of a very large puzzle involving proposed power plants in South Carolina.
“There is a reason Mr. Marsh is continuing to cooperate, there is a reason everything was said by a judge in there. Everything that was agreed to by Mr. Marsh, there’s a reason behind it.” South Carolina State Attorney, Alan Wilson said.
Investigators say in late 2016, Marsh gave false and misleading statements, about the SCANA project which allowed the company to obtain and retain rate increases imposed on customers. State court Judge Mark Hayes, made it clear, how important it is for Marsh to continue with that cooperation.
“You have to pretty much come clean with anything that the state and attorney general’s office may ask you for information, you’ve got to come clean, you understand that?” State Circuit Court judge, Mark Hayes said.
As the investigation continues Marsh holding up his part by paying $5 million dollars in restitution and agreed today to continue to work with investigators, while serving 24-months in federal prison and facing 3-years supervised probation after that.
“Our office will continue to pursue every piece of information every piece of evidence in conjunction with our federal law enforcement partners and with the cooperation of Mr. Marsh and other interested parties, we’re going to continue to follow the evidence and pursue the truth were ever it takes us.” State Attorney Wilson said.
The court said the company spent billions of dollars on two South Carolina nuclear plants that never generated a single watt of power.
“This involves tax payers, rate payer of South Carolina, it involves a level of trust.” Judge Hayes said.
Court officials said when Marsh was confronted with information that the project was delayed and that the tax credits were at risk, Marsh and others withheld that information from regulators in an effort to keep the project going.
This case has state and federal implications. As part of the plea deal Marsh will serve his sentences concurrently, if he continues to cooperate.
Attorney General’s office says this case is not over; they are using evidence provided by Marsh to investigate others.