{"id":1513,"date":"2026-06-24T21:17:42","date_gmt":"2026-06-24T21:17:42","guid":{"rendered":"https:\/\/corporate-movers-usa.com\/?p=1513"},"modified":"2026-06-24T21:17:42","modified_gmt":"2026-06-24T21:17:42","slug":"engineer-accused-of-using-insider-information-on-three-mile-island-nuclear-plans-to-make-1-5-million","status":"publish","type":"post","link":"https:\/\/corporate-movers-usa.com\/?p=1513","title":{"rendered":"Engineer accused of using insider information on Three Mile Island nuclear plans to make $1.5 million"},"content":{"rendered":"<div>\n<div>\n<div><audio><\/audio><\/div>\n<\/div>\n<p>A nuclear power plant engineering manager for Constellation Energy has been indicted on federal insider trading charges of using advance knowledge that his company planned to reopen a uranium-powered electric plant at Three Mile Island to collect illegal profits on the stock options market. <\/p>\n<p>Read more <a href=\"https:\/\/corporate-movers-usa.com\/?p=1511\">Joseph Woll and Simon Beno\u00eet are excited to be Flyers, and in Philly: \u2018It\u2019s just going to be magical\u2019<\/a><\/p>\n<div><\/div>\n<p>Casey Muggleston, of Marshallton, Del., worked on the license renewal team applying to the Nuclear Regulatory Commission for permits to restart the plant. According to a Delaware grand jury indictment, Muggleston made $1.48 million from his \u201cscheme to obtain illegal profits\u201d using \u201cmaterial nonpublic information\u201d before Constellation announced its decision.<\/p>\n<div><\/div>\n<div><\/div>\n<p>Following an investigation by FBI agents in Maryland and Delaware, Muggleston was charged Wednesday by the U.S. Attorney\u2019s Office for Delaware with securities fraud and four counts of insider trading. <\/p>\n<div><\/div>\n<p>The charges carry a maximum sentence of 105 years, if he is convicted. However, white-collar sentences are typically a fraction of guideline terms. The government also wants Muggleston to forfeit the $1.48 million.<\/p>\n<div><\/div>\n<p>Neither Muggleston, who worked for Constellation or its former owner Exelon Corp. from 2008 until 2025, according to a related SEC complaint, or his attorney returned a call seeking comment. <\/p>\n<div><\/div>\n<p>\u201cConstellation is aware of the government\u2019s indictment,\u201d company spokesperson Paul Adams said in an email. \u201cAs Mr. Muggleston is no longer an employee, we have no further comment.\u201d <\/p>\n<div><\/div>\n<div><\/div>\n<p>According to the indictment, Muggleston bought call options on the company\u2019s shares, a cheap way to collect gains in a stock\u2019s share value, without having to pay the shares\u2019 entire trading cost. <\/p>\n<div><\/div>\n<p>Three relatives also bought options but have not been charged, according to the indictment.  <\/p>\n<div><\/div>\n<p>In a separate the Securities &amp; Exchange Commission alleged Muggleston also shared information on other confidential Constellation deals as late as June 2025. He left the company that year, according to the SEC.<\/p>\n<div><\/div>\n<p>Here\u2019s what the indictment alleges: <\/p>\n<div><\/div>\n<div><\/div>\n<p>As early as April 2024, Constellation had said publicly that it was looking at restarting the reactor but hadn\u2019t made a decision. Before going public with the news, Constellation had employees such as Muggleston refer to the restart as \u201cProject Tetris.\u201d<\/p>\n<div><\/div>\n<p>A May 21 email to staff, including Muggleston, which was part of correspondence cited by both federal prosecutors and the SEC in their complaints, told employees to keep the licensing team\u2019s progress \u201cvery confidential.\u201d<\/p>\n<div><\/div>\n<p>Three days later, Muggleston sent his cousin, who lives near the plant,  an email noting \u201cthe restart is building steam. I\u2019m trying to think of how to profit off this \u2026\u201d He added that there were \u201cno guarantees.\u201d <\/p>\n<p>Read more <a href=\"https:\/\/corporate-movers-usa.com\/?p=1509\">Former Hatboro daycare worker charged with assault for injuring a child with special needs, police say<\/a><\/p>\n<div><\/div>\n<p>Eight days later, on June 1, he gave the cousin a heads-up that a decision would likely be made later that month.<\/p>\n<div><\/div>\n<div><\/div>\n<p>By June 8, Muggleston had begun buying Constellation options in his Delaware brokerage account, betting the stock would rise, mostly by dates in July or August. By Aug. 14, he had accumulated 195 options contracts.<\/p>\n<div><\/div>\n<p>But Constellation hadn\u2019t announced the reopening. The share price for a time drifted lower, and some of his initial options expired  and became unprofitable. <\/p>\n<div><\/div>\n<p>Then on Aug. 15, two colleagues told Muggleston the restart was approved, and he was summoned to a restart planning meeting. <\/p>\n<div><\/div>\n<p>Starting the next day, he bought another 150 options, then another 360. In early September the stock rose to over $200, making more of his options profitable. <\/p>\n<div><\/div>\n<div><\/div>\n<p>On Sept. 20, when Constellation made its announcement, the stock closed at $255, and he sold his 550 remaining options for a total profit of $1.48 million.<\/p>\n<div><\/div>\n<p>Muggleston had taken Constellation\u2019s annual training reminding employees, board members and contractors that they and their family members are barred from trading on insider information and from \u201ctipping\u201d outsiders with that information, the indictment says. Insider trading is also illegal under federal securities law. <\/p>\n<div><\/div>\n<p>The nuclear restart would help Constellation, a Baltimore-based power plant operator, supply data centers under a contract with Microsoft, among other customers. The plan is supported by President Donald Trump, Gov. Josh Shapiro and other government officials. Environmental critics say the process is being rushedand could raise the likelihood of contamination. <\/p>\n<div><\/div>\n<p>Constellation\u2019s plan focuses on Three Mile Island\u2019s reactor that closed in 2019 for economic reasons. It was not damaged in the 1979 partial nuclear meltdown.<\/p>\n<div><\/div>\n<p>Constellation says it\u2019s on track to load uranium into the reactor next spring and begin to supply electric power later in 2027.<\/p>\n<p>Read more <a href=\"https:\/\/corporate-movers-usa.com\/?p=1508\">Abington is planning a new, multi-million-dollar library to replace its 1950s-era building<\/a><\/p>\n<div><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Veteran nuclear engineer Casey Muggleston faces criminal and civil insider trading changes. <\/p>\n","protected":false},"author":1,"featured_media":1512,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-1513","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Engineer accused of using insider information on Three Mile Island nuclear plans to make $1.5 million - 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