Former Qwest CEO Joe Nacchio, convicted of insider trading, will not have to serve jail time while his case is being appealed, an appellate court said yesterday. It had looked as if Nacchio would go behind bars during the appeal process, so the decision is a little surprising.
Nacchio's appeal is raising eyebrows, too. It is said to be targeting instructions given to the jury that decided his guilt. Hopefully, that isn't a bad omen for Qwest investors, employees and others looking for some justice in this case. Prosecutors. If his conviction were to be overturned, it would be a slap in the face to many people involved with Qwest.
For More:
- The Denver Post covers the ongoing Nacchio case