That son of bitch ruined careers and destroyed the retirements of many whose portfolio included stock in the company. He should still be in jail just like Bernie Ebbers.
Heck, when I left I had $17,000 worth of stock in an IRA that I don’t recall signing for.
Looking at what was going on at Worldcom I fully expected the same thing to happen at Qwest.
I closed that IRA before it collapsed.
Many others didn’t, including a real nice gal who wasn’t so far from retiring and she lost the whole thing.
I feel horribly sorry for these people. They didn’t deserve to have their hard work and fruits thereof vaporized, forcing them to continue working well into their retirement years.
What surprises me about Qwest is The CFO at the time didn’t go to jail. He damn sure should have.
He had to be a part of cooking the books as the quarterly’s and annual’s will always have the signature of the CEO and CFO.
Anyone want to know anymore I can detail what the hell these thieves were doing.
They were the proverbial fish rotting from the head and even the local salespeople were submitting fraudulent orders and getting paid on them.
What a mess and the result were some very onerous laws that do absolutely nothing and I believe held the economy back as public companies and financial institutions struggled for years to understand their responsibility for compliance
Somehow, only the ones who offend The Powers That Be ever go to jail for it.