Qwest officers, bankers knew of fraud, suit says


Denver Post.com :: Qwest Communications International Inc.’s officers and bankers, including Salomon Smith Barney, knew the fourth-largest U.S. local-telephone company had engaged in accounting fraud since 1999, a lawsuit claims. The California State Teachers Retirement System, which has lost about $150 million in Qwest stock and bonds, claims Qwest founder Philip Anschutz, Citigroup’s Salomon Smith Barney and others engaged in a scheme “to make Qwest appear more successful than it actually was.”

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