AUSWR
The Association of U S West Retirees
 

 

 

Ex-Qwest CEO's invoices allegedly backdated
By Sara Burnett
Rocky Mountain News
Friday, June 1, 2007

Joe Nacchio asked his financial adviser on three occasions to change the dates on invoices so Qwest would be stuck with the bill for the service, prosecutors allege.  In a document filed before the former Qwest CEO's insider-trading trial but made public Thursday, attorneys said they wanted to present evidence that Nacchio backdated documents "from time to time," particularly when he wanted to conceal inappropriate behavior.

U.S. District Judge Edward Nottingham allowed prosecutors to touch on the topic briefly at trial, but did not let them get into detail.

According to the document, Nacchio asked his financial adviser in October 2000 to change the date on an invoice for $4,900 so it would fall into a time frame in which Qwest was picking up the bill.

The company did not pay for Nacchio's financial planning the entire time he was at Qwest, through it's unclear when the perk began.

In June 2002, Nacchio asked that the financial adviser, the Ayco Co., pre-bill him for $25,000 in services it had not yet rendered, the document states.  Nacchio was ousted from the company that same month.

He made another request in August 2002, "in a continuing scheme to deplete all of the funds Qwest allotted: for the service, according to the court filing.

http://www.rockymountainnews.com/drmn/tech/article/0,2777,DRMN_23910_5565144,00.html