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Non-Tech : The ENRON Scandal

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To: Mephisto who started this subject	9/23/2002 8:22:14 AM
From: Mephisto	of 5185

Qwest Restates Nearly $1B in Revenue Monday, September 23, 2002 · Last updated 1:54 a.m. PT seattlepi.nwsource.com [The following is an excerpt] By CATHERINE TSAI AP BUSINESS WRITER DENVER --" With government hearings looming this week, Qwest Communications is restating nearly $1 billion in revenue from swaps of capacity on its network - a practice that has come under scrutiny by federal regulators. The $950 million restatement is from so-called swaps, which the Securities and Exchange Commission is investigating to see if they allowed Qwest to artificially boost revenues. Qwest also is the subject of a Department of Justice investigation, and a House committee plans hearings this week." seattlepi.nwsource.com

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