By Andy Vuong
November 30, 2009
The U.S. Supreme Court, which in October denied Joe Nacchio's petition for a review of his insider trading conviction, today rejected the former Qwest chief executive's request for reconsideration.
The denial was issued without comment. The court did not solicit additional filings from the government before making its decision.
Nacchio was convicted in 2007 on 19 counts of insider trading connected to his sale of $52 million in Qwest stock.
He filed an appeal to the Supreme Court in March and began serving a six-year prison term in April.
After the high court refused to review his conviction in October, Nacchio's attorneys filed the request for rehearing.
Nacchio still has a resentencing pending
Nacchio has also filed a request for a new trial with the district court, claiming that new evidence emerged during a civil fraud case brought against him and several other former Qwest officials by the Securities and Exchange Commission.
Nacchio's attorney, Maureen Mahoney, didn't immediately respond to a request for comment today.
Andy Vuong: 303-954-1209 or firstname.lastname@example.org