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Six Years for Qwest's Joe Nacchio

By Jeralyn, Section Crime in the News
Posted on Fri Jul 27, 2007 at 02:41:11 PM EST
Tags: Joseph Nacchio (all tags)
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Former Qwest CEO Joseph Nacchio, convicted of insider trading, today was sentenced to six years in prison, fined $19 million and ordered to forfeit $52 million to the Government.

He was granted a voluntary surrender and will report to the designated facility within 15 days of designation. He was denied an appeal bond.

More here, including my take:

Joe Nacchio suffered a supreme fall from grace today. He didn’t get off lightly. The Judge, to his credit, resisted the Government’s request to max him out and flatten him like a pancake. We are all greater than the sum of our misdeeds, including Joe Nacchio.

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    Six Years for Qwest's Joe Nacchio | 4 comments (4 topical)

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    not enough (5.00 / 1) (#2)
    by eric on Fri Jul 27, 2007 at 03:11:44 PM EST
    $52 million isn't enough.  He should be ordered to pay everything he has.  He threw Quest down a sewer and thousands of people suffered.  No only the shareholders but the employees and even the customers.

    It's pretty typic