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Former Qwest CEO Nacchio GUILTY!

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earthside Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Apr-19-07 07:24 PM
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Former Qwest CEO Nacchio GUILTY!
Very happy about this ... and, frankly, surprised.

Rocky Mountain News

Nacchio found guilty

Former Qwest CEO Joe Nacchio was found guilty today of 19 counts of insider trading in connection with stock sales he made from January to May 2001. The verdict from a jury of eight men and four women was announced shortly after 4:30 p.m. today at the federal courthouse in Denver.

The guilty verdicts cover sales of 1.33 million shares in April and May 2001 with gross proceeds of $52 million. ...

... Nacchio faces a fine of up to $1 million on each count and up to 10 years in prison. In addition he may be forced to forfeit up to $52 million from his illegal stocks sales. He left the court with his family and did not comment. ...
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yourout Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Apr-19-07 07:26 PM
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1. 6 years to get a conviction.......Man that took a while.
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populistdriven Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Apr-19-07 07:28 PM
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2. you take your time with a White collar criminal - wouldn't want to wrongly convict him
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