A nine-judge panel this Thursday will review an appellate court's earlier reversal of former Qwest Communications CEO Joe Nacchio's insider trading conviction. The appellate court ruled that the judge in the initial trial wrongfully prevented an expert witness for the defense from testifying.
This week's larger judge panel (the initial panel had three judges) will either re-affirm the conviction, which would send Nacchio to prison for six years; uphold the reversal of his conviction; or remand the matter to the original district court for consideration of whether or not the excluded witness should be allowed to testify. Nacchio originally was convicted in April 2007, and sentenced in July 2007. He has remained free while the appeals process worked its way through the courts.
- check out this coverage at The Wall Street Journal
Nacchio was allowed to remain free during the appeals process
The appeals panel ruled 2-1 last March to reverse Nacchio's conviction