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Former Qwest Executive Is in Settlement Talks

September 16, 2004|From Associated Press

A former Qwest Communications International Inc. executive is negotiating the possible settlement of charges that he hid $112 million in accounting errors. The Securities and Exchange Commission has accused Michael Felicissimo, 47, of fraud that led to overstated wireless revenue at Qwest.

In a document filed in U.S. District Court this week, defense attorney Jeffrey Springer asked for more time to respond to the SEC civil suit, saying "the parties are engaged in settlement discussions."

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