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 a request for acquittal twice before.
Another court filing Monday indicated that Nacchio has agreed to put $52 million in escrow for possible forfeiture.
Nacchio will be sentenced July 27 and faces up to 10 years in prison and a $1 million fine for each guilty count. He also might be asked to pay back the $52 million he was said to have grossed as a result of the insider trading.
Qwest Communications International Inc.
Posted 5 years ago by Retuers News Wire in General Telecommunications Forum
