Friday, July 27, 2007

Nacchio Sentenced to Six Years in Prison

U.S. District Judge Edward Nottingham sentenced former Qwest CEO Joseph Nacchio to a six-year prison term, at the lower end of the Federal Sentencing Guidelines range.  In addition, he imposed a $19 million fine, the maximum permitted based on the 19 counts of conviction, and ordered a forfeiture of $52 million based on his total gain.  The Denver Post blog on the Nacchio trial (here) has the details. (ph)

Insider Trading, Sentencing | Permalink

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