Con Edison Probes Alleged Bribery Scheme

Law360, New York (September 27, 2010, 3:35 PM EDT) -- Consolidated Edison Inc. has launched an internal probe of a possible scheme to defraud its New York subsidiary, following the arrest of a former employee who allegedly received kickbacks from one of the company’s suppliers.

The energy giant reported Monday in a filing with the U.S. Securities and Exchange Commission that it was working with government authorities to root out the conspiracy — a move prompted by the Aug. 5 arrest of a Consolidated Edison Company of New York Inc. retiree on fraud charges.

According to...
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