(Reuters) - The SEC alleged that from at least April 1, 1999 through March 31, 2002, Szeliga and others at the telecommunications company engaged in "massive financial fraud" that hid the true source of the company's revenue and earnings growth.
In order to meet Qwest's aggressive revenue and earnings growth target, the company repeatedly relied on immediate revenue recognition from one-time sales of assets known as "IRUs" and certain equipment while falsely claiming that revenue was coming in, the SEC said.
Read more at Reuters.com Government Filings News
In order to meet Qwest's aggressive revenue and earnings growth target, the company repeatedly relied on immediate revenue recognition from one-time sales of assets known as "IRUs" and certain equipment while falsely claiming that revenue was coming in, the SEC said.
Read more at Reuters.com Government Filings News
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