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DUKE ENERGY ISSUES STATEMENT ON CHARGES AGAINST FORMER EMPLOYEES FOR SCHEMES TO DEFRAUD THE COMPANYAccording to the U.S. Attorney’s indictment, the three former employees: “did knowingly devise, intend to devise, and participate in a scheme to defraud and to obtain money and property from Duke Energy by means of materially false and fraudulent pretenses, representations and promises, and material omissions ….” Duke Energy issued the following statement on the U.S. Attorney’s announcement: The individuals named in today’s indictments were at one time employed by Duke Energy but no longer work for the company. Duke Energy is reviewing its options for restitution and may take actions, pending the outcome of these indictments. In 2002, Duke Energy identified issues related to the Eastern trading operations – and took swift action to address them. At that time, we brought these matters to the attention of the government entities examining industry trading activities. We have cooperated with the U.S. Attorney in The company recorded, in 2002, all the appropriate financial adjustments associated with the activities cited by the U.S. Attorney in today’s announcement. The financial implications were not material to Duke Energy. Duke Energy is a diversified energy company with a portfolio of natural gas and electric businesses, both regulated and unregulated, and an affiliated real estate company. Duke Energy supplies, delivers and processes energy for customers in
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