Qwest exec gets sentenced today
By Rocky Mountain News
Friday, March 3, 2006
Former Qwest Executive Marc
Weisberg will be sentenced today.
Weisberg, Qwest's former executive vice president of
corporate development, pleaded guilty to one felony count of
wire fraud in connection with a vendor stock case and agreed
to cooperate with the government. If the proposed plea
agreement is approved, Weisberg will be sentenced to 60 days
of house arrest as part of two years of probation, pay the
maximum $250,000 fine for a wire fraud charge, and be barred
from serving as a director or officer of a publicly head
company for at least two years.
The plea agreement would require Weisberg to make himself
available for possible testimony if required by the
Federal prosecutors charged Weisberg with netting $2.9
million, with proceeds allegedly going to buy a Mercedez-Benz
and paying for improvements at his Cayman Islands vacation
home. In some cases Weisberg was accused of "pay-to-play"
tactics, or using his position to make stock allocations a
condition of Qwest entering into a commercial agreement with