Feds: Send him (Nacchio) to prison
The ex-Qwest CEO must show his verdict is wrong, the filing
By Andy Vuong
Tuesday, March 17, 2009
Former Qwest chief executive Joe Nacchio should not be allowed
to remain free on bail because he has not met the heavy burden
of showing that his insider-trading conviction is incorrect, the
government argued in a court filing Monday.
The Department of Justice's filing states that "after a
conviction, the burden shifts to the defendant to establish that
the criteria for release are met."
The 10th Circuit Court of Appeals affirmed Nacchio's conviction
last month and revoked his bail.
On March 4, U.S. District Judge Marcia Krieger ordered Nacchio
to report to a Pennsylvania prison camp
by noon next Monday to begin serving his six-year term.
Nacchio has asked Krieger to allow him to remain free on bail
pending a petition to have the Supreme Court review the
His attorney Maureen Mahoney said in the request that she could
file the Supreme Court petition as early as this week.
Nacchio can also ask a Supreme Court judge to allow him to
remain free but has not done so.
Nacchio was convicted in 2007 on 19 counts of illegal insider
trading, accused of selling Qwest stock in early 2001 after
receiving warnings from his top executives that the company was
in financial trouble.
Andy Vuong: 303-954-1209 or