Dome redeveloper charged with insider-dealing

Link: ‘Chaos’ cost Dome FD his bonus

Philip Anschutz, the founder and former chairman of telecoms firm Qwest Communications, was named alongside four other executives in a civil lawsuit brought by New York attorney general Eliot Spitzer.

The five are charged with gaining $18m from insider dealing with bank Salomon Smith Barney. Anschutz alone is alleged to have made $3.2m from the deals.

Anschutz heads1128637 up the Meridian consortium which aims to turn the Dome into a sports and entertainment complex. The consortium did not pay anything to the government for the site but promises a share of future profits.

The government insists that redevelopment is still on track and that the charge will not affect plans as Anschutz is only individual in a sizeable consortium.

Related reading