[IP] Former Qwest Chief Charged With Securities Fraud
Title: Former Qwest Chief Charged With Securities Fraud
Former Qwest Chief Charged With Securities Fraud
By THE ASSOCIATED PRESS
Published: March 15, 2005
Filed at 6:10 p.m. ET
DENVER (AP) -- The Securities and Exchange Commission charged former Qwest Communications CEO Joseph Nacchio and six other executives Tuesday with orchestrating a ``massive financial fraud'' at the telecommunications company that concealed the source of billions of dollars in revenue later wiped off the books.
The civil lawsuit blamed Nacchio and others for creating a ``culture of fear'' and putting enormous pressure on employees to meet revenue and earnings goals through bogus sales procedures that became an addiction.
You are subscribed as roessler@xxxxxxxxxxxxxxxxxx
To manage your subscription, go to
http://v2.listbox.com/member/?listname=ipArchives at: http://www.interesting-people.org/archives/interesting-people/