Qwest exec reaches tentative deal in fraud case
By Jeff Smith
Rocky Mountain News
Saturday, January 6, 2007
Former Qwest Chief Financial Officer Robin Szeliga has
reached a tentative civil fraud settlement with the
Securities and Exchange Commission, according to a court
filing Friday. Szeliga had reached a preliminary settlement
in late 2005 as well but pulled out of it.
The one-page court filing didn't disclose any details. It
said only that Szeliga had reached a "settlement in
principle" with the SEC's regional office in Denver and that
the proposed settlement was subject to review and formal
approval by the SEC commissioners in Washington, D.C.
One of Szeliga's Los Angeles attorneys, Mark Drooks, said he
The Denver SEC office already was closed for the weekend.
The SEC sued Szeliga and a half-dozen former Qwest
executives, including Joe Nacchio, in March 2005, accusing
them of a massive financial fraud.
The SEC at the time sought $1.6 million from Szeliga for
In a separate criminal proceeding, Szeliga last year was
sentenced to two years of probation and six months of house
arrest for one count of insider trading.
She paid a $250,000 fine for a trade that netted her about