Qwest Communications: A Case Study Of Fraud And Greed

Abstract

This case study examines the unethical and illegal activities that occurred at Qwest Communications. Headquartered in Denver, Colorado, top level managers at Qwest fraudulently manipulated the firms financial reports in order to artificially inflate Qwests revenue and profit levels. Former Qwest CEO, Joseph Nacchio, was charged and convicted of insider trading by selling Qwest stock during the time period when the fraud occurred within the company. In March 2008, Joseph Nacchios conviction was overturned by a federal appeals court.