AUSWR
The Association of U S West Retirees
 

 

 

New Nacchio trial appealed
By Jeff Smith
Rocky Mountain News
Thursday, May 1, 2008
Updated 01:14 p.m., April 30, 2008

Federal prosecutors are requesting the full appellate court to review the case of former Qwest Chief Executive Officer Joe Nacchio.

Last month, a three-judge panel of the 10th U.S. Circuit Court of Appeals voted 2-1 to reverse Nacchio’s insider-trading conviction and ordered a new trial.

The panel ruled that U.S. District Judge Edward Nottingham made an error in preventing defense witness Daniel Fischel, a law professor, from offering expert testimony about Nacchio’s stock sales.

In today’s filing, the government said, “The panel’s decision not only departs from precedent, but threatens to restrict district judges’ traditional and important discretion to exclude unsupported expert opinions and unnecessary economic commentary.”

Nacchio was convicted last spring of 19 counts of insider trading in connection with selling $52 million of stock when he knew but didn’t tell investors that Denver-based Qwest was relying on one-time sales of fiber-optic capacity to make its numbers.

The jury acquitted Nacchio of 23 counts.
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Comments:

Posted by holekeeper on April 30, 2008 at 1:32 p.m.
I hope this guy burns!!!

Posted by POHA on April 30, 2008 at 1:33 p.m.
Lock him up!

Posted by MarineGrunt on April 30, 2008 at 1:41 p.m.
I would like to see how the judges off hour games affected this mans trial. It is possible to separate yourself from the two...
Granted, he is a Fed Judge and all, he should be a lot more careful.

Posted by BeefEaterGrins on April 30, 2008 at 2:09 p.m.
He hurt to many people to get off.

Posted by Seabreezes on April 30, 2008 at 2:12 p.m.
He's a rich, well-connected white man. He ain't going to jail. Justice for all my b*tt.

Posted by Steph on April 30, 2008 at 2:27 p.m.
I wish they'd string him up like in the old days. He literally stole $17,000 of my 401K and I was one of the lucky ones. I know people who lost $100,000+.

Posted by steve00 on April 30, 2008 at 2:38 p.m.
Hey, Seabreezes, there was a great Chappele show about the different legal systems people get depending if they're rich and white or poor and black. Love to see Nacchio get the poor, black legal system. He'd be locked up and somebody's b*tch by now.

Posted by Seabreezes on April 30, 2008 at 2:55 p.m.
steve, I saw that episode. Chris Rock said the same thing...if OJ had been poor, he'd be Orenthal the bus driving killer, not "the Juice". If Joe Nacchio were poor, he'd be Cell Block A's plate of Nachos.

http://www.rockymountainnews.com/news/2008/apr/30/deadline-today-appeal-nacchio-retrial-order/