More Tough Luck For Convicted Former Qwest CEO Nacchio
Wall Street Journal Law Blog
By Dionne Searcey
We all know that you win some and you lose some. But if you’re former Qwest CEO Joseph Nacchio, you lose some, you win some, you lose some. . . and you lose some again. We’ve detailed Nacchio’s saga through the legal system here and here.
The latest chapter of the one-time telecom CEO convicted of
insider trading involves a
First, the back story. In 2007, Nacchio (pictured) was sentenced
to 72 months in a minimum-security satellite prison camp in
Nacchio tried to waive his appearance at the hearing. He said
White collar inmates housed in (relatively) cushy,
minimum-security “country club” prisons aren’t particularly fond
of being transported across the country by
The government told the court that “public policy interests” require that Nacchio show up.
Nacchio’s next move was to seek a furlough from prison so he
could get to court by his own means, at his own expense. It’s
unclear how he would have done so, but a private jet delivered
Yesterday, the judge set a new hearing for two days in June and ordered Nacchio to show up for at least the first day. We’re guessing he’ll stick around for the entire hearing.