White Collar Crime

Lawyer Testifies About Advice in Media Execs’ Trial

A lawyer from Cravath, Swain and Moore testified yesterday that he warned that payments to media executives at Hollinger International needed to be disclosed to the Securities and Exchange Commission. Paul Saunders said he gave the warning to Peter Atkinson, then a vice president, in May 2001, according to Chicago…

Apr 20, 2007 5:02 PM CDT

Qwest CEO Convicted

A jury on Thursday convicted former Qwest CEO Joe Nacchio of 19 counts of insider trading, the Denver Post reports. U.S. attorney Troy Eid spoke in a press conference after the conviction. “The jury has spoken,” he said. “This is an overwhelming determination of guilt. Nineteen counts. Each count carries…

Apr 20, 2007 3:33 AM CDT

Sixth Day of Deliberations in Qwest CEO Trial

The length of jury deliberations in the insider trading trial of former Qwest CEO Joe Nacchio is not unusual. Jurors are deliberating for the sixth day, which is the number of days it took jurors to convict former Enron executives Jeffrey Skilling and Kenneth Lay, the Denver Post reports.

Apr 19, 2007 8:33 PM CDT

Prosecutors Mention, But Don’t Call, Ex-Qwest Lawyer

Prosecutors repeatedly mentioned the name of Qwest’s former vice president for legal affairs during the four-week trial of the company’s CEO. But the lawyer, Yash Rana, never testified. He had told both sides that, if called, he would invoke his right against self-incrimination, according to a story in the Denver…

Apr 16, 2007 7:32 PM CDT

Ex-Reagan Budget Chief Says His Prosecution is ‘Sick’

The former budget director for Ronald Reagan, facing trial on charges he hid the financial condition of the company he headed, is angry about the prosecution, the New York Times reports. “It’s wrong. It’s sick,” David Stockman told the newspaper. “How can you end up losing $13 million of your…

Apr 16, 2007 1:51 PM CDT

Former CEO Agrees to Pay $800 Million

The former chief executive of Computer Associates has agreed to pay almost $800 million in restitution to investors who lost money because of accounting fraud. But Sanjay Kumar will be able to pay only about $52 million this year, the New York Times reports. Kumar is scheduled to begin a…

Apr 13, 2007 1:55 PM CDT

Hollinger Lawyer Testifies Payments Not OK’d

A lawyer for Hollinger International testified yesterday that an internal investigation showed the board did not approve most noncompete payments to company chairman Conrad Black, on trial in Chicago for misappropriating company money. Darren E. Sukonick said in video testimony that his Toronto law firm began the investigation after Hollinger’s…

Apr 12, 2007 1:23 PM CDT

Qwest CEO Remains Silent

The defense has rested in the insider trading trial of the chief executive of Qwest Communications, the New York Times reports. Prosecutors contend CEO Joseph P. Nacchio sold more than $100 million in Qwest stock in 2001 when he knew the telecommunications company had financial problems. He did not testify…

Apr 10, 2007 1:42 PM CDT

Lawyer Testifies About Advice in Media Execs’ Trial

Qwest CEO Convicted

Sixth Day of Deliberations in Qwest CEO Trial

Prosecutors Mention, But Don’t Call, Ex-Qwest Lawyer

Ex-Reagan Budget Chief Says His Prosecution is ‘Sick’

Former CEO Agrees to Pay $800 Million

Hollinger Lawyer Testifies Payments Not OK’d

Qwest CEO Remains Silent

Milberg Weiss on the Hot Seat

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