Nacchio seeks oral arguments before appeals court
July 20, 2010
DENVER — Former Qwest CEO Joseph Nacchio is requesting an oral hearing before a federal appeals court, as he continues challenging his sentence on insider trading convictions.
Nacchio was sentenced in 2007 to spend six years in prison, pay a $19 million fine and forfeit $52 million. However, the 10th U.S. Circuit Court of Appeals ruled the sentence was improperly calculated, and a judge re-sentencing him last month shaved two months from the prison term and $7.4 million from the forfeiture amount.
In a document filed Tuesday in
An expert for Nacchio has suggested Nacchio gained far less from insider trading than what the prosecutors' expert estimated.
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