Report: Ex-Qwest Chief May Face Charges
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Former Qwest Communications chief executive Joseph Nacchio reportedly may soon face civil charges related to improper accounting at the telecommunications company.
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Qwest Communications agrees to make a  $250m payment to settle charges stemming from an inquiry into an alleged securities fraud.
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Criminal charges were filed Tuesday against a former executive at Network Associates Inc., alleging he illegally profited from advance knowledge of a massive sales shortfall in 2000.
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Business & money: Â· Former Independent chief denies fraud chargesÂ· Company's accounts were a 'mystery quagmire'
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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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Thursday&#39;s agreement between Qwest Communications and federal regulator settles allegations of &quot;massive financial fraud&quot; at a price of $250 million.
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Former execs had been charged with fraudulent wire communications, identity theft and conspiracy.
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A civil lawsuit accusing Henry Nicholas III, the former president and CEO of Broadcom Corp., of mistreating employees, using illegal drugs and paying for prostitutes, has reportedly caught the attention of U.S. law enforcement officials investigating stock options backdating at the company.
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Former Qwest Communications Inc. (QN: Quote, Profile, Research) executive Tom Hall, who was scheduled to go on trial next month for accounting fraud, will plead guilty, his attorney said on Friday in a court filing.
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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) - Prosecutors are recommending that former Qwest Communications International chief Joseph Nacchio serve more than seven years in prison for insider trading during the telecommunications boom. Nacchio, who was CEO of Qwest from 1997 to 2002, would serve 87 months plus three years' probation, and pay as much as $19 million in fines, under the recommendation filed Friday by federal attorneys. He wasÂ convicted in federal courtÂ in April of 19 counts of insider trading involving $52 million in stock sales. He was cleared on 23 other insider-trading counts. Following the prosecutors' sentence recommendation to Judge Edward Nottingham of the U.S. District Court for the District of Colorado, in Denver, Nacchio's lawyers on Friday asked for a reduction in the recommended sentence. They cited good works by Nacchio and the possible effect of a long sentence for Nacchio on the health of two of his family members. In their filing, the government's attorneys said Nacchio deserved a sentence at the high end of the scale because of brazen lies to investors, the size of his ill-gotten gains, and other factors. He faces a maximum possible sentence of 10 years in prison and a $1 million fine for each count, plus a forfeiture of assets. Qwest is a regional incumbent telecommunications provider that serves several states in the West and Midwest. Nacchio resigned in 2002 amid concerns from shareholders about his $27 million annual compensation package. In 2005, the U.S. Securities and Exchange Commission charged him and other Qwest executives with fraud, saying they misrepresented one-time sales of network capacity as recurring revenue in order to boost the company's stock price. Nacchio unloaded his own stock while predicting strong growth, all the while knowing about problems with Qwest's performance, the government charged.
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Civil charges may be coming in the near future for the former leader of Denver-based Qwest Communications International Inc. The Wall Street Journal reported Monday that Joseph P. Nacchio, former CEO of the
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The regional telecommunications company Qwest 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.
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Qwest Communications has agreed to pay $250 million to settle a Securities and Exchange Commission investigation into its accounting practices.
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Federal regulators are considering civil charges against two former executives of Lucent Technologies Inc. and a third ex-employee of the telecommunications gear maker over
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Federal prosecutors are strongly  considering criminal charges against former executives of  Broadcom Corp., Apple Inc., and KLA-Tencor Corp., related to  the backdating of stock options, the Wall Street Journal  reported on Friday, citing people familiar with the situation.
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Federal prosecutors are strongly considering criminal charges against former executives of Broadcom Corp., Apple Inc., and KLA-Tencor Corp., related to the backdating of stock options, the Wall Street Journal reported on Friday, citing people familiar with the situation.