The Association of U S West Retirees



Court approves Nacchio's request to drop appeal

By Andy Vuong
The Denver Post

February 14, 2011

A federal appeals court in Denver today approved a request by Joe Nacchio to withdraw his appeal of his sentence, ending the imprisoned former Qwest chief executive's more than five-year legal battle with the Justice Department.

Nacchio, serving five years and 10 months in prison for criminal insider trading, filed to withdraw the appeal Friday.

Nacchio was charged with 42 counts of insider trading in December 2005 connected to his sale of $100 million in Qwest stock in early 2001.

A jury convicted him on 19 counts in 2007, finding that he based some of the stock sales on material information about Qwest's deteriorating finances that was not available to the public.

The U.S. Supreme Court rejected Nacchio's request for a review of the case in 2009.

Nacchio reported to a federal prison camp in Schuylkill, Pa., in April 2009. His projected release date is May 2014.

Andy Vuong: 303-954-1209, or