Ex-Qwest executive fined
$250,000 for wire fraud
By Rocky Mountain News
Friday, March 3, 2006
Former Qwest Communications International Inc. executive
Marc B. Weisberg was fined $250,000 Friday and sentenced to
60 days of home detention after pleading guilty to wire
fraud. Prosecutors accused Weisberg of earning $2.9 million
for himself, family members and friends between 1999 and
2001 by demanding that vendors offer them stock in return
for doing business with the Denver-based telecommunications
Weisberg was a senior vice president who oversaw
investments, mergers and acquisitions for Qwest.
He was indicted in February 2005 on eight counts of wire
fraud and three counts of money laundering and could have
faced decades in prison and huge fines.
On Dec. 28, he pleaded guilty to a single count of wire
fraud in a deal that requires him to cooperate with
prosecutors trying to convict former Qwest chief executive
officer Joseph Nacchio of illegally dumping more than $100
million of company stock while publicly touting Qwests
Nacchio has denied wrongdoing.