Court Says Nacchio Prison Term Improper
By Dionne Searcey
The Wall Street Journal
Friday, July 31, 2009
A federal appellate court has ruled Joseph Nacchio, former chief
Qwest Communications International Inc., was improperly
sentenced after his 2007 conviction for insider trading.
The 10th Circuit Court of Appeals in
also ruled Friday that Mr. Nacchio, a star CEO during the
telecom boom at the start of the decade, was improperly ordered
to forfeit $52 million, the proceeds he earned from allegedly
inappropriate stock sales.
A new sentencing hearing will be ordered for Mr. Nacchio and
legal experts said his term would likely be shortened and his
forfeiture amount reduced. In April, Mr. Nacchio began
serving his sentence at Schuylkill minimum security camp in
A lawyer for Mr. Nacchio declined comment.
Mr. Nacchio has appealed his conviction to the U.S. Supreme
Court. Recently the court sought his entire case file and
will likely decide whether to take up his case later this fall.
Write to Dionne Searcey at