Qwest Croaks Settle with SEC

Qwest Executives Settle SEC Accounting Charges: Augustine Cruciotti, a former Qwest executive vice president, will pay a $150,000 penalty, and Steven Haggerty, a former senior vice president, will pay $30,000, according to the SEC. The former executives settled without admitting or denying the SEC’s claims. Denver-based Qwest allegedly used fiber-optic cable sales-lease deals to meet earnings targets and Qwest senior managers commonly referred to them as “gap fillers,” according to the SEC.


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