prosecutors

 

Nacchio Gets Six Years in Prison, Must Repay $52 Million

Joe Nacchio, Qwest Communications International Inc.s embattled former CEO, was sentenced July 27 to six years in prison. A federal judge on Monday also ordered Nacchio to repay $52 million within 15 days, pay a $19 million fine, cover most legal costs and serve two years of probation in addition to his prison time. Nacchio […]

Nacchio Found Guilty on 19 of 42 Counts

A jury Thursday found former Qwest Communications International Inc. CEO Joe Nacchio guilty on 19 of 42 counts of illegal insider trading. Jury deliberations took six days. Nacchio now faces up to 10 years in prison and a $1 million fine for each of the 19 guilty counts. Federal prosecutors contended Nacchio took part in […]

Ex-Qwest Head Charged with Insider Trading

Federal prosecutors today charged ex-Qwest Communications International Inc. CEO Joseph P. Nacchio with insider trading. The government contended Nacchio took part in insider trading for sales of $100.8 million in Qwest stock between Jan. 2, 2001, and May 29, 2001. Each charge carries a maximum penalty of 10 years in prison and fines up to […]

Reports: Feds Ready to Indict Former Qwest CEO

Federal prosecutors are ready to go after former Qwest Communications International Inc. CEO Joe Nacchio, according to news reports. The Denver Post and Rocky Mountain News said today a federal grand jury is meeting in Denver as the feds prepare to seek a criminal indictment against Nacchio. Prosecutors have said the investigation focuses on insider […]

Former Qwest CFO Charged with Insider Trading

Robin Szeliga, the former CFO of Qwest Communications International Inc., has been charged with one count of insider trading, federal prosecutors announced Thursday. Prosecutors allege Szeliga had information about her employers true operating performance and financial condition that was not disclosed to the public when she sold 10,000 shares of Qwest common stock, netting a […]

WorldCom’s Yates Pleads Guilty in Accounting Scandal

Buford Yates Jr. on Monday became the second WorldCom Inc. executive to admit participation in one of the largest accounting frauds in U.S. history. Yates, WorldCom’s former director of general accounting, pleaded guilty to one count of conspiracy and one count of securities fraud before a U.S. Magistrate judge in Manhattan. Yates could be sentenced […]

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