CHICAGO (dpa-AFX) - Exelon Corp. (EXC) agreed to pay a civil penalty of
$46.2 million to settle the U.S. Securities and Exchange Commission's fraud
charges over a political corruption scheme against Exelon and its unit
Commonwealth Edison Company.

The SEC charged Exelon, electric utility company Commonwealth Edison Company or
ComEd, and former ComEd CEO Anne Pramaggiore with fraud in connection with a
multi-year scheme to corruptly influence and reward then-Speaker of the Illinois
House of Representatives Michael Madigan. The charges against Pramaggiore will
be litigated.

According to the SEC's order against Exelon and ComEd, from 2011 through 2019,
ComEd arranged for various associates of Madigan to obtain jobs, subcontracts,
and monetary payments, all with the intent to influence Madigan regarding
legislation favorable to ComEd.

The order found that ComEd arranged payments to Madigan's associates through
third-party vendors to conceal the size of the payments and to assist ComEd in
denying responsibility for oversight of Madigan's associates, who in some
instances did little to none of the work for which they were hired.

The order found that ComEd made indirect payments totaling more than $1.3
million to Madigan's associates. In a deferred prosecution agreement entered
into with criminal authorities, ComEd acknowledged that Madigan's support of
legislation favoring ComEd resulted in reasonably foreseeable anticipated
benefits to ComEd of more than $150 million.

The SEC's complaint against Pramaggiore alleged that she participated in, and in
some instances directed, the bribery scheme. The complaint alleged that
Pramaggiore did not disclose the bribery scheme and instead misled investors
when she characterized ComEd's lobbying activities as legitimate. The complaint
also alleged that, as part of the scheme, Pramaggiore lied to Exelon's auditors
and filed false certifications.


The SEC seeks permanent injunctive relief, disgorgement plus prejudgment
interest, a civil penalty, and an officer and director bar against Pramaggiore.



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