CINCINNATI, Ohio — Samuel Randazzo, the former chairman of the Public Utilities Commission of Ohio (PUCO), self-surrendered at U.S. District Court in Cincinnati today, facing an 11-count indictment related to bribery and embezzlement.
The federal grand jury indictment, returned on Nov. 29, charges Randazzo, 74, with offenses including conspiring to commit travel act bribery and honest services wire fraud, travel act bribery, honest services wire fraud, wire fraud, and making illegal monetary transactions. If convicted, he could face up to 20 years in prison.
Randazzo served as PUCO chairman from April 2019 until November 2020, when he resigned. The charges allege that he received more than $4.3 million from an energy company and its affiliates during his tenure to influence PUCO proceedings in their favor.
U.S. Attorney Kenneth L. Parker emphasized the importance of holding public officials accountable, stating, “Public officials – whether elected or appointed – are tasked with upholding the highest level of integrity in their duties and responsibilities. Such service to the public must be selfless, not selfish.”
FBI Cincinnati Special Agent in Charge J. William Rivers outlined an alleged scheme where Randazzo received bribes to provide favorable actions for the energy company through PUCO proceedings. Text messages referenced in the indictment suggest specific instances where Randazzo intervened in regulatory decisions to benefit the energy company.
One message from an energy executive in November 2019 read, “Stock is gonna get hit with Ohio 2024. Need Sam to get rid of the ‘Ohio 2024 hole.’” Another executive’s message mentioned speaking with Randazzo, assuring that the 2024 issue would be handled promptly, aligning with subsequent PUCO decisions.
The indictment also alleges that Randazzo received the bribe money through his consulting business, Sustainability Funding Alliance of Ohio, Inc. (SFA), registered in Ohio in March 2010. SFA filings list Randazzo as the president and sole representative, with his home address as the business address.
Furthermore, the charging document accuses Randazzo of embezzling at least a million dollars meant for an association of large, industrial energy users in Ohio through his consulting business. Randazzo, who served as the general counsel of the industry group, controlled its bank accounts and allegedly diverted settlement payments for personal gain.
Randazzo’s alleged embezzlement scheme involved creating a fictitious member of the industry group to conceal his actions. In March 2019, he purportedly attempted to hide his embezzlement by wiring approximately $1.1 million between bank accounts under his control.
The former PUCO chairman is scheduled for an initial appearance today, and the legal proceedings will unfold as the case progresses.
