Nacchio renews bid for bail
By Andy Vuong
Friday, March 13, 2009
Posted: 03/13/2009 11:03:22 AM MDT
Updated: 03/13/2009 11:06:55 AM MDT
Former Qwest chief executive Joe Nacchio has renewed his bid to
In a court filing late Thursday, Nacchio's attorney asked U.S.
District Judge Marcia Krieger to reconsider the request for bail
pending a Supreme Court review of his insider trading
conviction. Krieger denied a similar motion Thursday,
stating that it was "premature" because Nacchio had yet to file
his Supreme Court petition.
Nacchio's attorney Maureen Mahoney contends that other courts
have previously ruled on such requests before a filing to the
high court had been made.
As an alternative, Mahoney requests that Krieger conditionally
postpones her order mandating Nacchio report to prison by noon
on March 23 to begin serving his six-year term. Mahoney
would then file the Supreme Court petition by March 20, a week
earlier than previously stated, as well as another request for
bail with Krieger on the same date. As part of that
request, Mahoney wants Krieger to postpone the prison order by
up to 14 days after she rules on the bond motion, so the 10th
Circuit Court of Appeals and the Supreme Court can rule on the
same motion, if necessary.
Separately, Nacchio has another motion pending to postpone the
date his must report to prison for an unspecified reason, though
a supporting document suggests it is related to his health.
Nacchio was convicted in 2007 on 19 counts of insider trading,
accused of selling millions in Qwest stock in early 2001 after
private receiving warnings from top executives that the company
was deteriorating financially.
Andy Vuong: 303-954-1209 or