Ex-Qwest CEO Nacchio to appear for Denver hearing
The Associated Press
April 13, 2010
judge wants to see former Qwest CEO Joe Nacchio in person before
agreeing to let him waive his right to attend re-sentencing
hearings on insider trading charges.
Nacchio is in
serving a sentence of six years in prison after jurors convicted
him of selling Qwest Communications International Inc. stock
based on insider information. He also was ordered to pay $71
million in fines and forfeitures, but his sentence is being
reconsidered after a federal appeals court ruled last year that
it was too harsh because the trial judge miscalculated Nacchio's
U.S. District Judge Marcia Krieger said in a written order
Tuesday she wants to bring Nacchio to
to advise him of his right to attend re-sentencing hearings, one
of which is set to begin April 21.
Krieger said she would push back the April 21 hearing if
Nacchio cannot be brought to
Nacchio's attorneys have said Nacchio would waive his right
to attend the re-sentencing hearings. However, prosecutors
argued he is required to at least attend a hearing in June when
Krieger could announce the new sentence, even if he skipped the
one in April, when Krieger planned to hear calculations of how
much Nacchio gained from the insider trading.
Krieger noted that Nacchio has changed lawyers since his
original sentence was handed down, and that she, not his trial
judge, would consider his new sentence.
"These circumstances all favor requiring Mr. Nacchio to be
physically present in order to assure that his waiver is
voluntary and informed," Krieger wrote.