Qwest Communications International spans the globe with its high-capacity broadband fiber-optic network. It is the number four local phone company in the US (behind AT&T Inc. (formerly SBC Communications), Verizon, and BellSouth); the company more than doubled in size and gained 25 million local phone service customers in 14 states in the US with the acquisition in 2000 of Baby Bell U S WEST. Qwest uses its network to provide long-distance, as well as broadband data, voice, and video services outside its local area and around the world. Qwest is expanding its wireless services, offered in affiliation with Sprint PCS, previously only available in its own local area.
Qwest Communications International Inc.
1801 California Street
Denver, CO 80202
Phone: 303-992-1400
Fax: 303-992-1724
Joseph Nacchio, the former boss of Qwest Communications, has been sentenced to six years in jail for insider trading.
He has also been ordered to hand over the $52m (£25m) he made from illegal stock trading and has been fined $19m.
Nacchio was found guilty of selling shares ahead of bad corporate news, and hiding information from investors
The former boss of US phone company Qwest Communications, Joseph Nacchio, has been found guilty of 19 counts of insider trading.
A court in Denver ruled that in 2001, Nacchio sold $50m (£25m) of Qwest stock after being told the firm would miss its financial targets.
Nacchio, who was cleared on 23 charges, faces up to 10 years in jail and a fine that could total $19m
The former chief executive and six former officials at US telecoms giant Qwest Communications have been accused of deceiving investors.
Former CEO Joseph Nacchio, who denies any wrongdoing, is among those named in the civil case brought by the Securities and Exchange Commission.
It said Qwest inflated its revenue by $3bn (£1
US telecoms giant Qwest Communications has agreed to pay $250m (£136.7m) to settle charges stemming from an inquiry into an alleged securities fraud.
The Denver-based firm did not admit any liability in the case brought by the US Securities and Exchange Commission
Qwest Communications settled a long-standing consumer fraud lawsuit with the Arizona Attorney General’s Office Monday by agreeing to pay a $3.75 million fine and to better inform customers about their options.
The suit, filed in 2001 by then-Attorney General Janet Napolitano, accused Qwest of numerous violations of Arizona’s Consumer Fraud Act, including placing unauthorized charges on consumers’ bills; failing to disclose charges associated with repairs and installation; engaging in false and misleading advertising; and setting up customer service departments that frustrate consumers’ attempts to resolve problems