Qwest Ex-Official Strikes Plea Deal With Prosecutors

Mr. [Marc Weisberg]'s plea agreement doesn't mention Mr. [Joseph Nacchio] by name, but he is the only Qwest executive still facing a trial. William Leone, the U.S. attorney in Colorado, said last week that the government's investigation of Qwest is largely complete. Mr. Nacchio resign...

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Bibliographic Details
Published inThe Wall Street journal. Eastern edition
Main Author Young, Shawn
Format Newspaper Article
LanguageEnglish
Published New York, N.Y Dow Jones & Company Inc 29.12.2005
EditionEastern edition
Subjects
Criminal pleas
Insider trading
Nacchio, Joseph
Plea bargaining
Trials
Weisberg, Marc
Wire fraud
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Summary:Mr. [Marc Weisberg]'s plea agreement doesn't mention Mr. [Joseph Nacchio] by name, but he is the only Qwest executive still facing a trial. William Leone, the U.S. attorney in Colorado, said last week that the government's investigation of Qwest is largely complete. Mr. Nacchio resigned under pressure in 2002 amid investigations into Qwest's accounting practices. The company, once a darling of investors, was ultimately forced to restate $2.2 billion in earnings and $2.5 billion in revenue for 2000 and 2001. No former executives have faced criminal charges of falsifying Qwest's books. The Securities and Exchange Commission has a civil fraud suit pending against Mr. Nacchio and several other former Qwest executives.
ISSN:0099-9660