Former Qwest CFO charged
with insider trading
By Jeff Smith
Rocky Mountain News
Thursday, June 2, 2005
Federal prosecutors today charged former Qwest chief financial officer Robin Szeliga with insider trading.
Szeliga, 44, of Littleton, was accused of making $125,000 in profits from selling Qwest stock in April 2001, at a time she allegedly knew Qwest's revenues were being artificially propped up.
Szeliga's attorneys immediately filed a notice of a plea agreement, but details weren't disclosed.
Szeliga worked directly under former Qwest Chief Executive Joe Nacchio. Szeliza and Nacchio are among seven former Qwest executives who face civil securities fraud charges by the Securities and Exchange Commission.
The maximum penalty for the insider trading charge is 10 years in prison and a $1 million fine.