Judge Refuses to Acquit Former Qwest Execs
A federal judge refused to acquit four former Qwest Communications International Inc. executives accused of artificially boosting company revenue by $34 million, saying there was enough evidence to support guilty verdicts.
Thomas Hall, Grant Graham, John Walker and Bryan Treadway are accused of conspiring to help the Denver-based telecommunications company improperly book the money in June 2001 to meet financial targets, perhaps hoping to boost their own bonuses.
All four have pleaded not guilty to conspiracy and fraud charges stemming from a $100-million deal to connect Arizona schools to the Internet.
Quest shares rose 3 cents to $4.35 on the NYSE.