Dynergy CFO to settle fraud charges
SANTA ROSA, CALIFORNIA - A former chief financial officer of energy company Dynegy Inc. is paying $376,560 to settle federal regulators' charges that he played a role in an alleged $300 million fraudulent accounting scheme in 2001.
The Securities and Exchange Commission announced the settlement with the former finance chief, Robert Doty Jr., who agreed to pay a civil fine of $120,000 and restitution of $200,000 plus $56,560 in interest. Doty also was barred for five years from serving as an officer, director or accountant of any public company.
Two other former Dynegy executives, former vice president of taxation Gene Foster and former in-house accountant Helen Sharkey, also settled the SEC's charges.
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WASHINGTON - Energy Secretary Rick Perry is advancing plans to shift the United States towards the next generation of nuclear reactors.
The Energy Department announced this week it has launched a new test facility at the Idaho National Laboratory where private companies can work on advanced nuclear technologies, to avoid the high costs and waste and safety concerns facing traditional nuclear power plants.
“[The National Reactor Innovation Center] will enable the demonstration and deployment of advanced reactors that will define the future of nuclear energy,” Perry said.
With climate change concerns growing, some Republicans and Democrats are arguing for the need for more…
