Joe Nacchio Headed to Prison on April 14th

Joe Nacchio, the former executive at AT&T and former CEO at Qwest, was told on Tuesday that his six-year prison sentence will begin on April 14th. Nacchio received his sentence after being found guilty on 19 counts of insider trading in 2007.
After being passed over for a promotion within AT&T, Nacchio left for rival Qwest. However, a costly decision in 2001 currently has him heading to prison. In April of that year, Nacchio allegedly sold more than $50 million in Qwest stock after learning that the company wasn’t as financially sturdy as those outside of the company had thought.
In early …read more