AUSWR
The Association of U S West Retirees
 

 

 

Former 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 government.

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 the vendor.

http://www.rockymountainnews.com/drmn/local/article/0,1299,DRMN_15_4512006,00.html