Former FirstEnergy CEO Accused of Bribery, Misleading Investors

Testimony alleges Chuck Jones assured investors a damaging regulatory review would never happen, despite it already being set.

Published on Feb. 25, 2026

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In the ongoing trial of former FirstEnergy CEO Chuck Jones and ex-lobbyist Michael Dowling, another FirstEnergy official, Steven Staub, testified that Jones had assured investors a damaging regulatory review would never occur, even though it was already scheduled. Prosecutors allege Jones' confidence stemmed from his bribery of the former head of the Public Utilities Commission of Ohio, Sam Randazzo, who later killed the review. Staub said Jones' statements were concerning and that he told his supervisors the claims were "material information" that "we can't support."

Why it matters

The testimony provides further evidence of alleged corruption at the highest levels of FirstEnergy, with the former CEO accused of misleading investors through bribery to protect the company's profits and stock price. This case highlights broader concerns about the influence of money in politics and the need for greater transparency and accountability in regulated industries.

The details

According to Staub's testimony, in 2019 Jones told investors at a conference that he could "almost guarantee" a damaging regulatory review would never happen, even though it was already set to occur. Staub said he was surprised by Jones' confidence and told his supervisors the claims were improper. Prosecutors allege Jones' assurances were the result of his bribery of Randazzo, who later killed the review, allowing FirstEnergy to maintain higher rates and stock prices. Staub said Jones' compensation was heavily tied to the company's stock performance.

  • In November 2019, Jones made statements to investors assuring them a regulatory review would not happen.
  • The regulatory review that Jones claimed would not occur was already scheduled to take place.

The players

Chuck Jones

Former CEO of FirstEnergy who is on trial for bribery and misleading investors.

Steven Staub

FirstEnergy official who testified about Jones' statements to investors.

Sam Randazzo

Former head of the Public Utilities Commission of Ohio, who prosecutors allege was bribed by Jones to kill the regulatory review.

Michael Dowling

Former top lobbyist for FirstEnergy who is on trial alongside Chuck Jones.

Jason Lisowski

FirstEnergy's current top accountant, who previously testified about Jones' confidence in avoiding the regulatory review.

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What they’re saying

“How could we make that statement? That's material information. We can't support that.”

— Steven Staub, FirstEnergy official (cleveland.com)

“Decisions that relate to unethical behavior, incompetence, who knows, basically result in us being here today.”

— Steven Staub, FirstEnergy official (cleveland.com)

What’s next

The judge in the case will decide on Tuesday whether to allow Chuck Jones to remain out on bail.

The takeaway

This case highlights the need for greater oversight and accountability in the energy industry, where corporate interests can sometimes override ethical behavior and transparency. The alleged bribery and misleading of investors by FirstEnergy's former leadership raises serious questions about the integrity of the regulatory process and the influence of money in politics.