Ex-Qwest Exec Tom Hall to Plead Guilty
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Former Qwest Communications Inc. Q.N  executive Tom Hall, who was scheduled to go on trial next month  on charges stemming from an accounting scandal, will plead  guilty, his attorney said on Friday.
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(InfoWorld) - An executive at Samsung Electronics, the world's largest manufacturer of DRAM (dynamic RAM), has agreed to plead guilty and serve jail time for participating in a global price-fixing conspiracy, the U.S. Department of Justice (DOJ) said Thursday. The DOJ said Thomas Quinn participated in a price-fixing conspiracy in his position as vice president of marketing for memory products at Samsung Semiconductor Inc., Samsung's U.S. subsidiary. The DOJ charged Quinn with violating the U.S. Sherman Act, which lays out antimonopoly regulations. The DOJ alleged that he helped engineer an agreement to fix DRAM prices and to coordinate bids in a Dec. 5, 2001 Sun Microsystems Inc. auction. Under the plea agreement, which must be approved by the U.S. District Court in San Francisco, Quinn has agreed to serve an eight-month prison sentence and pay a US$250,000 fine. In addition, Quinn has agreed to assist the DOJ in its ongoing investigation, which it is pursuing in conjunction with the U.S. Federal Bureau of Investigation (FBI). "We are still very actively investigating antitrust violations in the DRAM industry," the DOJ's Antitrust Division director of criminal enforcement, Scott Hammond, said in a statement. DRAM is the most commonly used semiconductor memory product. The alleged price fixing harmed computer makers, by making manufacturers such as Apple Computer Inc., Dell Inc. and Hewlett-Packard Co. pay more for DRAM than they otherwise would have, the DOJ said. The costs were then passed on to consumers, it pointed out. In March,Â three other Samsung executives agreed to a similar plea deal. Sun Woo Lee, Samsung's senior manager of DRAM sales, agreed to a sentence of eight months in U.S. prison. Yeongho Kang, associate director of DRAM Marketing for Samsung's U.S. subsidiary, and Young Woo Lee, sales director for Samsung's German subsidiary, both agreed to serve seven months. The three also agreed to each pay a $250,000 fine. With Thursday's plea agreement, four companies and 13 individuals have been charged and fines totaling more than $731 million have resulted from the DOJ's investigation. Among other related plea deals and charges, Samsung was ordered in November 2005 to pay a $300 million fine. Hynix was ordered in May 2005 to pay $185 million. Elpida Memory agreed in January to pay $84 million. And Infineon agreed in October 2004 to pay $160 million. In addition to the DOJ case, similar investigations and charges are being pursued on the state level. Samsung faces charges in a price-fixing lawsuit filed in Manhattan by New York Attorney General Eliot Spitzer, working with other states. And in July,Â 34 states filed a joint antitrust lawsuit against seven DRAM makersÂ over price fixing. That lawsuit did not include Samsung, but did include Micron Technology Inc.; Infineon Technologies AG; Hynix Semiconductor Inc.; Elpida Memory Inc.; NEC Electronics America Inc.; Mosel Vitelic Inc. and Nanya Technology Corp.
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The Securities and Exchange Commission is expected to announce tomorrow a settlement with Qwest that is highly critical of &quot;senior management,&quot; two sources familiar with the case said.
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The Securities and Exchange Commission is expected to announce today a settlement with Qwest that is highly critical of &quot;senior management,&quot; two sources familiar with the case said.
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WASHINGTON (CBS.MW) -- Shares of Qwest Communications International rose more than 5 percent in Friday action amid news that the company has agreed to pay $250 million to end a federal probe of fraudulent accounting practices employed by former management
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A former Army Corps of Engineers contractor accused of giving confidential information to a company seeking work on a levee reconstruction project has agreed to plead guilty to bribery, federal prosecutors said Thursday.
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Qwest executives made hundreds of millions of dollars by selling their shares while the company made what the Securities and Exchange Commission on Thursday
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Former Gov. John G. Rowland, driven from office by a corruption scandal, said in court Thursday that he would plead guilty to a single federal charge.
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US prosecutors said Thursday Qwest Communications isn&#39;t off the hook, even though the company agreed to a $250 million civil fine for its addiction to fraudulent accounting.
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Former Gov. John G. Rowland will plead guilty Thursday to federal charges in U.S. District Court, the Associated Press has learned.
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Qwest Communications International Inc. agreed to pay $250 million in two installments to settle a two-and-a-half-year investigation by the US Securities and Exchange Commission.
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Former Qwest Communications executive Thomas Hall agreed on Friday to plead guilty to an unspecified charge that will wrap up the first criminal case brought as part of the government&#39;s
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A former executive of Alcatel has pleaded guilty to taking part in a scheme to give more than $2.5 million in bribes to Costa Rican government officials for a mobile phone contract, the U.S. Department of Justice said on Thursday.
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Qwest Communications International Inc.  has agreed to pay &#36;250 million to settle financial and disclosure fraud charges, a source familiar with the matter said on Friday.
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Qwest agreed to pay $250 million Thursday to settle allegations the telecommunications company falsified the books by at least $3.
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Qwest, the US telecoms company founded by Millennium Dome entrepreneur Philip Anschutz, will pay $250m (Â£140m) to settle civil fraud charges, according to a union official briefed on the pact.
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Qwest Communications International Inc., the regional telecommunications company, agreed Thursday to pay $250 million to settle allegations that it improperly booked millions in revenue and that senior managers sought to cover it up.