Joe Nacchio, former CEO of Qwest - Telecom Turkeys of 2009

Why is he a turkey?  
While it may seem like a long time ago when Joe Nacchio was president and CEO of Qwest, he hasn't been out of the spotlight as he continues to try to convince a court to overturn his insider trading conviction. After being convicted in 2007 on 19 counts of insider trading, Nacchio was able to initially avoid prison time as he and his legal team filed various failed appeals.

But when these routes were exhausted in April, the once high flying executive traded his business suit and high flying digs for an orange prison jumper and a shared cell when he formally began serving his six year sentence at the Schuylkill minimum-security facility in Minersville, Pa. In this insider-trading scheme, Joe ran off with $52 million worth of stock despite knowing that the company's earnings were shaky at best. 

This October it looked like Joe may have been close to convincing a court to reduce his sentence when his attorneys asked the U.S. Supreme Court to overturn a lower court's insider-trading conviction. His argument was that the case brought against him was based on internal executive discussions and that an expert witness was not included at his trial. However, the U.S. Supreme Court denied Nacchio's latest appeal in October and Joe will be spending Thanksgiving eating turkey with his fellow inmates in the prison café.

Joe Nacchio, former CEO of Qwest - Telecom Turkeys of 2009
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