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 Wednesday, December 28, 2005 |
Former Qwest VP pleads guilty to wire fraud
Jaime Jansen at 4:36 PM ET
[JURIST] Former Qwest Communications [corporate website] vice president of investments, mergers and acquisitions Marc Weisberg pleaded guilty Wednesday to a single wire fraud count after his indictment [US DOJ press release] in February on eight counts of wire fraud and three counts of money laundering. Weisberg agreed to cooperate with federal prosecutors trying to convict other Qwest executives, including former CEO Joseph Nacchio [AP profile], who was charged with 42 counts of insider trading [JURIST report] earlier this month. The government has conducted a four-year investigation into the officers of Qwest, a Denver based western telephone service provider. Former CFO Robin Szeliga pleaded guilty to one count of insider trading [JURIST report] in July and Qwest agreed to pay a $250 million [JURIST report] last year for SEC fraud charges. AP has more.
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Paper Chase is JURIST's real-time legal news service, powered by a team of 30 law student reporters and editors led by law professor Bernard Hibbitts at the University of Pittsburgh School of Law. As an educational service, Paper Chase is dedicated to presenting important legal news and materials rapidly, objectively and intelligibly in an accessible, ad-free format.
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