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Former Qwest CFO Charged

By: Associated Press
By: Associated Press

Qwest's former chief financial officer Robin Szeliga (ze-LEE'-ga) has been charged with insider trading.

She is scheduled to appear in federal court in Denver on July 14th. Prosecutors say she is expected to plead guilty, though they won't provide details.

Prosecutors say Szeliga sold ten-thousand shares of Qwest stock in 2001, knowing that Qwest wouldn't meet its publicly stated financial targets.

If convicted, Szeliga could face ten years in prison and a one (m) million dollar fine.

Szeliga previously was named in a lawsuit filed by the Securities and Exchange Commission. The suit accused her and other former executives of orchestrating a massive financial fraud that concealed the source of (B) billions of dollars in revenue that was later erased.


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