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FOR ANSCHUTZ IT'S $5M PAYBACK TIME (nailing telecom profiteering)
NY POST ^
| 5/12/03
| JENNY ANDERSON
Posted on 05/12/2003 6:03:00 AM PDT by Liz
Edited on 05/26/2004 5:13:50 PM PDT by Jim Robinson.
[history]
New York Attorney General Eliot Spitzer is about to wrap up a deal that would force former Qwest chairman Philip Anschutz to cough up about $5 million in profits he got from lucrative IPOs, The Post has learned.
Spitzer may also go after other telecom industry CEOs on more serious "spinning" charges that would carry stiffer penalties, said sources close to the deal.
(Excerpt) Read more at nypost.com ...
TOPICS: Business/Economy; Crime/Corruption; Extended News
KEYWORDS:
And where is Global Crossing? The profiteering by Gary Winnick and DNC's Terry McAuliffe must be exposed.
1
posted on
05/12/2003 6:03:00 AM PDT
by
Liz
To: Liz
And take a look at Mpower Communications....
L
2
posted on
05/12/2003 6:06:41 AM PDT
by
Lurker
("One man of reason and goodwill is worth more, actually and potentially, than a million fools" AR)
To: timestax; rohry; antaresequity; arete; APBaer; PGalt; J. L. Chamberlain; AdamSelene235; ...
The case against the executives cites New York's Martin Act and Executive Law, which do not require evidence of a quid pro quo between the executives and Solly. Instead, the attorney general must prove there was a failure to disclose material facts that might affect the value of an investment. That nails quite a few people.
3
posted on
05/12/2003 7:59:52 AM PDT
by
Liz
To: Liz
At least the good news is this:
Spitzer may also go after other telecom industry CEOs on more serious "spinning" charges that would carry stiffer penalties, said sources close to the deal.
They include former WorldCom CEO Bernie Ebbers; Metromedia Fiber Networks Chairman Stephen A. Garofalo; former McLeod USA CEO Clark E. McLeod and former Qwest CEO Joseph P. Nacchio.
4
posted on
05/12/2003 8:05:40 AM PDT
by
Grampa Dave
(Free Republic, where leftist liars are exposed 24/7!)
To: Liz
And where is this $5 million supposed to go?
5
posted on
05/12/2003 10:13:29 AM PDT
by
Mr. K
(I'm formidable with that)
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