Ex-Qwest exec Tom Hall to plead guilty
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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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A former Microsoft Corp. worker pleaded guilty in federal court Wednesday to participating in a software sales scheme with three others that defrauded the company of more than &#36;32 million.
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former executive at Qwest Communications International, who was scheduled to go on trial next month on charges related to accounting irregularities, will plead guilty, his lawyer said yesterday.
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Denver-based Qwest Communications International Inc. (NYSE: Q) has agreed to a pay $250 million fine to settle a wide-ranging fraud investigation by the US Securities and Exchange Commission (SEC), the Associated Press reported Thursday.
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A former Qwest Communications executive is negotiating a possible settlement of SEC charges against him. The Securities and Exchange Commission has accused Michael Felicissimo of fraud that led to overstated wireless revenues at Qwest.
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Qwest Communications International, the US telecommunications group, is understood to have agreed to pay $250 million to end a two-year federal probe of alleged fraudulent accounting practices employed by former management.
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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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NEW YORK Steven Woghin, the former general counsel of Computer Associates, was to plead guilty on Wednesday in a US District Court to criminal charges stemming from a two-year investigation into the company&#39;s accounting practices, according to people
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The former chief financial officer of Qwest Communications International Inc.  was ordered to pay a total of $577,052 to settle charges that she helped defraud investors of billions of dollars, the U.S. Securities and Exchange Commission said on Friday.
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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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RAYMOND Reginald Williams, who had previously claimed he could have saved HIH from collapse, yesterday pleaded guilty to three criminal charges arising from his management of the failed insurer.
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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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Steven Woghin, the former general counsel of Computer Associates, will plead guilty to criminal charges.
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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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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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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