Attorneys for prison-bound Joe Nacchio are seeking a new trial for the former Qwest CEO, claiming new evidence.
Nacchio was convicted in April 2007 on 19 counts of illegal insider trading connected to his sale of $52 million in Qwest stock in early 2001. Nacchio was sentenced to six years in prison and ordered to pay $71 million in fines and forfeitures. His prison sentence is expected to start March 23.
The new evidence — a 2001 revenue shortfall of 1.4 percent — surfaced in a pending civil suit and differs from the 4.2 percent figured used at the 2007 criminal trial, changing the level of risk Nacchio traded on, his attorneys claimed.
Security and UCaaS and SD-WAN, the triple-headed monster, dominated the news last week. https://t.co/Yoq7yrjhkf
October 19 2018 @ 21:53:25 UTC