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
- Bids on reworking Interstate 55 stretch are rejected
- Spivey named Under 40 Business Person of the Year by the Mississippi Business Journal
- JACK WEATHERLY: Economic development in these parts is a ‘family’ business
- Hosemann to launch crowd funding program
- CFPB wants repay ability at center of new payday loan rules
- ALAN TURNER: Education in Mississippi – good and bad news
- Terminal upgrade on indefinite hold at Jackson International Airport
- JOSH MABUS: The Tao of Road House
- Answering the Bell: Interim Ole Miss law school dean well-regarded for directing hands-on clinical training