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Court Orders Shorter Sentence For Ex-Qwest CEO

Joe Nacchio was convicted in 2007 of 19 counts of insider trading. Prosecutors alleged he sold $52 million in Qwest stock based on nonpublic information that the company was at risk. The 10th Circuit Court of Appeals ruled Friday that the $52 million figure was too high. Instead, the figure used should have been Nacchio's net profit resulting from illegal insider trading.

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Posted on 31 July '09 by admin, under Consolidating student loan, Debt managment, Freedom debt relief, Investing advice, Mutual Funds, debts consolidation, wealth building.