nacchio

 

Nacchio Appeals Insider Trading Conviciton

Former Qwest Communications International Inc. CEO Joseph Nacchios legal team is seeking to overturn his conviction for insider trading. Nacchios attorney, Maureen Mahoney, filed a 58-page brief with a federal appeals court Tuesday saying there was insufficient evidence for a conviction. She also said the judge gave improper jury instructions and excluded important defense testimony […]

News Briefs

Beleaguered MVNO Ampd Mobile Inc. was purchased out of bankruptcy Aug. 1 by Prexar Mobile, a nationwide provider of wireless services operated by USA Telephone, a CLEC. Launched in 2005, Ampd filed for Chapter 11 protection on June 1. Joe Nacchio, Qwest Communications International Inc.s embattled former CEO, was sentenced July 27 to six years […]

Nacchio Gets Six Years in Prison, Must Repay $52 Million

Joe Nacchio, Qwest Communications International Inc.s embattled former CEO, was sentenced July 27 to six years in prison. A federal judge on Monday also ordered Nacchio to repay $52 million within 15 days, pay a $19 million fine, cover most legal costs and serve two years of probation in addition to his prison time. Nacchio […]

Judge: Nacchio Must Forfeit Assets of $52 Million

Qwest Communications International Inc.s former CEO, Joe Nacchio, must forfeit $52 million in assets he gained after illegal stock sales. The federal government has tried since late 2005 to force Nacchio to hand over those proceeds. A federal judge in Denver released the forfeiture order on Friday as Nacchios sentencing hearing was starting. Nacchio in […]

News Briefs

Attorneys for former Qwest Communications International Inc. CEO Joe Nacchio have asked a Denver court for an acquittal, a new trial and a change of venue in his insider trading case. Nacchios attorneys said the jury that convicted him on 19 of 42 counts in April was exposed to public attacks on the defendant. A […]

Notebaert Announces Retirement Plans

Folks used to say that the RBOCs moved in lockstep. So its interesting timing that just two months after Ed Whitacre announced his retirement, Qwest Communications International Inc.’s Chairman and CEO Dick Notebaert has done the same. The mild-mannered head of Qwest, a long-time fixture on the RBOC scene, on June 8 told the board […]

Nacchio Attorneys File for New Trial

Attorneys for former Qwest Communications International Inc. CEO Joe Nacchio filed motions Monday for an acquittal, a new trial and a change of venue in his insider trading case. His attorneys said the jury that convicted him on 19 of 42 counts in April was exposed to public attacks on Nacchio. A judge has denied […]

NEWS BRIEFS

Wholesale service provider Pac-West Telecomm Inc. filed for Chapter 11 bankruptcy on May 1. The beleaguered company has secured $18.5 in debtor-inpossession financing to fund operations during reorganization. Pac-West has watched revenue from ISPs decline as it simultaneously has spent millions building out its network. It also sold its retail business to TelePacific Communications in […]

Nacchio Sues Over Legal Fees

Former Qwest Communications International Inc. CEO Joe Nacchio has filed a lawsuit in a Delaware court over his legal costs. He said Qwest is balking at paying his legal fees and he is asking the court to require the company to keep footing the bills. Nacchio last month was found guilty on 19 of 42 […]

Nacchio Found Guilty on 19 of 42 Counts

A jury Thursday found former Qwest Communications International Inc. CEO Joe Nacchio guilty on 19 of 42 counts of illegal insider trading. Jury deliberations took six days. Nacchio now faces up to 10 years in prison and a $1 million fine for each of the 19 guilty counts. Federal prosecutors contended Nacchio took part in […]

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