Former Qwest CFO pleads guilty to insider trading

[JURIST] Former Qwest Communications [official website] CFO Robin Szeliga pleaded guilty Thursday to one count of insider trading. Szeliga, initially charged last month [JURIST report; DOJ press release], will likely face a term of 15 to 21 months in prison after admitting to improperly selling 10,000 shares of Qwest stock for a profit of $125,000. Because she may have been in a position to know the extent and timing of other executives knowledge of the scandal, including former CEO Joe Nacchio [JURIST report], she is expected to help government prosecutors in their continuing investigation. Qwest agreed to pay $250 million [JURIST report] last year to settle SEC fraud charges in a deal that did not include individuals. AP has more.

 

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