JURIST - Paper Chase: Former Qwest exec pleads guilty in fraud case

A former executive of Qwest Communications charged in the company's alleged $34 million fraud scheme reached a plea agreement Friday and agreed to cooperate with federal prosecutors, giving the government its first significant victory in the case against the telecommunications company. Grant Graham, 38, pleaded guilty to a felony count of accessory after the fact to wire fraud with reckless indifference. As part of the agreement, nine other charges were dropped and Graham will not have to pay restitution. Graham, 38, is a former chief financial officer for Qwest's global business unit. While US District Judge Robert Blackburn told Graham he could sentence him to 30 years in prison, the agreement calls for one year of probation and a $5,000 fine. AP has more.