Deal between Ex-Qwest CFO and SEC Collapses

Law360, New York (January 20, 2006, 12:00 AM EST) -- In a surprising turnaround, a former executive of scandal-ridden telecommunications giant Qwest Communications has withdrawn from a deal brokered by the U.S. Securities and Exchange Commission last summer, amid charges of accounting fraud.

Robin Szeliga, Qwest’s ex-chief financial officer, announced late last week that her settlement with the SEC had been scrapped, though she offered no explanation for the about-face.

“We do not have a settlement,” said her attorney, Mark Drooks, who now has 30 days to file revised motions.

Speculation has run rampant as to...
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