The trial of Joe Nacchio, former CEO of Qwest Communications International Inc., went to the jury today, shortly after noon Mountain Time.
A jury of eight men and four women is considering whether Nacchio took part in insider trading for sales of $100.8 million in Qwest stock between Jan. 2, 2001, and May 29, 2001.
Each of the 42 counts he faces carries a maximum penalty of 10 years in prison and fines up to $1 million. The government has been trying since late 2005 to force Nacchio to forfeit the proceeds he made from the stock sales.
Nacchio has repeatedly denied any wrongdoing. He oversaw the nations now third-largest local phone company as it lost $100 billion in market value during the telecom downturn.
Qwest Communications International Inc. www.qwest.com
.@KnowBe4 lists top #phishing email #subjectlines for Q3 2018. https://t.co/cEox9BAbL7
October 23 2018 @ 21:50:47 UTC
.@IngramMicroInc announces new Integration Center for partners. https://t.co/oOH14TU5qD
October 23 2018 @ 20:40:21 UTC
.@PowernetCo names VP of strategic alliances. #WiFi #SIP https://t.co/wQzCtvP8Z1
October 23 2018 @ 19:39:47 UTC
.@ExtremeNetworks launches new #onlinetraining program for partners. #networking https://t.co/3SlaiptIU2
October 23 2018 @ 18:34:57 UTC
Master agents are really into geographical expansion and portfolio diversification this year. https://t.co/BSa0EAe7Bf
October 23 2018 @ 17:53:03 UTC
Loading ...