Former Qwest VP pleads guilty to wire fraud

[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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