Monday, April 23, 2007

Qwest's Nacchio Faces 15 Years in Prison Amid Crackdown on U.S. Companies

(Bloomberg) -- Joseph Nacchio's next courtroom battle will be to convince a judge that he shouldn't get 15 years behind bars for trading on inside information as chief executive officer of Qwest Communications International Ltd.

Nacchio, 57, illegally sold $52 million in Qwest shares in 2001 based on private warnings that the company would miss revenue targets, a Denver jury said last week.


Read more at Bloomberg Exclusive News

No comments: