Ex-Qwest CEO’s expert to present analysis
Published: June 23,2010
DENVER — A judge considering a new sentence for former Qwest CEO Joseph Nacchio for insider trading convictions has already heard one expert’s opinion of how much Nacchio gained from allegedly selling stock using information the public didn’t have.
Today, Nacchio’s own expert is presenting his analysis.
Prosecutors say Nacchio sold $52 million worth of stock in 2001 based on insider information. He was sentenced in 2007 to serve six years in prison, pay $19 million in fines and forfeit $52 million, but a federal appeals court ruled the sentence was too harsh because a judge miscalculated Nacchio’s net gains from the stock sales.
U.S. District Court Judge Marcia Krieger has indicated she could announce a new sentence tomorrow.
To sign up for Mississippi Business Daily Updates, click here.
Top Posts & Pages
- DAVID DALLAS: Tax slasher productions comes to Mississippi
- Status of some bills in the Mississippi Legislature
- Proposed ammo ban empties shelves
- Locker doors opening for Clinton inventor after ‘Shark Tank’
- Columbus-built Airbus gets FAA airworthiness approval
- Hattiesburg wastewater treatment system could cost $152M
- BILL CRAWFORD: Gunn steals tax cut spotlight
- (UPDATED — BREAKING NEWS) American Specialty Alloys won’t locate $1.2B mill in Mississippi
- Bill would make only 1 hospital follow open-meetings act