Markets
U.S. open in 27 hrs, 12 mins
BUSINESS NEWS
- Market News
- Earnings
- Recalls
- Recession Watch
- Tech News
- Financial Crisis
- Madoff Scandal
- BloggingStocks
- Luxist
- Money Videos
INVESTING
- Stock Quotes
- Stock Charts
- Stock Ticker
- Currencies
- Portfolio
- Stock Screener
- Broker Center
- Mutual Fund Center
- ETF Center
- Money
- 24/7 Wall St.
- Financial Glossary
PERSONAL FINANCE AT WALLETPOP
- Bargains
- Banking
- Budget
- Calculators
- College Finance
- Community
- Credit
- Deals
- Debt
- Economizer
- Food
- Home
- Fraud
- Insurance
- Interest Rates
- Loans
- Mortgages
- Real Estate
- Recalls
- Recession
- Retirement
- Saving
- Simplification
- Specials
- Taxes
SMALL BUSINESS
Ex-Qwest CEO seeks fresh start on sentence
AP ONLINE
posted: 26 DAYS 6 HOURS AGO
DENVER (AP) — Former Qwest CEO Joseph Nacchio says a federal judge should start from scratch in reconsidering his sentence for insider trading.
Nacchio was sentenced in 2007 to six years in prison and to pay $71 million. He lost an appeal of his conviction, but a federal appeals court ruled his sentence was too harsh because the trial judge overstated his gains.
If the judge starts fresh, Nacchio could introduce new evidence for her to consider.
Federal prosecutors responded in court documents Monday that the judge isn't required to do so.
Prosecutors said Nacchio sold $52 million worth of stock in 2001 while knowing that Denver-based Qwest Communications International Inc. risked missing its sales targets.
COMMENTS ( 0 )