Prosecutors Suggest 7 Years for Nacchio (little Enron)

[Omaha Steve]

Source: Associated Press

Prosecutors Suggest 7 Years for Nacchio

Saturday July 7, 5:49 AM EDT

DENVER (AP) — Prosecutors recommended Friday that former Qwest chief executive Joe Nacchio serve a maximum of seven years and three months in prison for completing $52 million in illegal stock sales when his telecommunications company was at financial risk.

In a brief filed late Friday, government attorneys also recommended Nacchio serve three years probation and be fined a maximum of $19 million.

"Any less severe sentence would fail to provide just punishment, to promote respect for the law, and to protect the public," prosecutor James Hearty wrote on behalf of the legal team.

In a separate brief, defense attorney Herbert Stern asked U.S. District Judge Edward Nottingham to impose an unspecified lesser sentence which he said was warranted because of the effect a lengthy prison term would have on the health of two of Nacchio's family members.


Read more: http://money.excite.com/jsp/nw/nwdt_rt_top.jsp?news_id=ap-d8q7m3ug0&

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Marta (CWA member 18 years) worked for Northwestern Bell, then US West after the Judge Green break up. We lost BIG $ on our stock like many others did. Like Enron it hurt hundreds of thousands while this guy smiled.

[Gman]

1. Just commute his sentence

what the fuck does it matter anymore?

Nachio is a scumbag of the first order. He was a scumbag when he was at AT&T looking for anyway he could to make people's lives miserable and he did the same at US West.

[DrDan]

2. I remember this jerk from his AT&T marketing days.

He had no regard for the law then also.

[bluestateguy]

3. Add another name to the 1/20/2009 pardon list

nt