Prosecutors seek sealed statementsin Qwest accounting probe
Federal prosecutors are trying to obtain as many as 200 "allegedly incriminating" statements currently under seal as it pursues its case against four former Qwest executives who are accused of artificially inflating the carrier's revenues, the Denver Rocky Mountain News reported today. Former Qwest executives Grant Graham, Thomas Hall, John Walker and Bryan Treadway have pleaded not guilty to charges they conspired to inflate revenues related to the sale of Internet equipment and services by $33 million. In another accounting misstep, Qwest acknowledged in September 2002 that it would restate revenues of $1.48 billion for optical capacity sales and swaps dating to 2000. The carrier said it had followed accounting procedures approved by its previous auditor, Arthur Andersen.
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