news

Former Qwest Exec Gets Probation, $250K Fine

The former CFO for Qwest Communications International Inc. was sentenced on Friday afternoon to two years probation and fined $250,000.

Robin Szeliga pleaded guilty to insider trading last year for her role in the carriers 2001 accounting and securities fraud scandal. She admitted to making $125,000 from the sale of 10,000 shares of Qwest stock when high-ranking administrators did not tell investors about the companys actual financial standing.

Szeliga will serve six months in home detention. She has repaid the $125,000 and agreed last year to help prosecutors in their case against former Qwest CEO Joseph Nacchio. He is awaiting trial on 42 counts and has pleaded innocent.

Szeliga faced up to 10 years in prison and up to $1 million in fines but got a reduced sentenced thanks to a plea deal.

Qwest Communications International Inc. www.qwest.com

 


Leave a comment

Your email address will not be published. Required fields are marked *

Polls

Is your business ready for the EU's GDPR to go into effect on May 25?

View Results

Loading ... Loading ...
The ID is: 75028