Login | Contact Us | Site Map | Archives | Alerts | Electronic edition | Subscribe to the paper
Subscribe to RSS   Add to My Yahoo!

February 26, 2009 9:07 AM

Nacchio guilty again - will Supremes intervene?

The only folks who can save Joe Nacchio from a prison sentence are wearing robes.

Sara Burnett reports:

Although the nation's high court has agreed to hear only about 1 percent of cases filed there in recent years, Nacchio has a couple of things going for him: a narrowly divided appellate court decision and an attorney with a stellar record of getting cases heard - and winning.

The final stage was set Wednesday, when the 10th Circuit Court of Appeals reinstated Nacchio's insider trading conviction.

In a 5-4 decision, the appellate court found that U.S. District Judge Edward Nottingham acted properly when he excluded a key defense expert. The court also revoked an earlier ruling by a three-judge panel that Nacchio may remain free on bail pending his appeal and lifted a stay on his prison sentence.

The court sent the case back to the panel to reconsider the six-year prison sentence and the order for Nacchio to forfeit $52 million of stock proceeds.

But unless the Supreme Court grants a rare stay of the order of imprisonment pending a final outcome, Nacchio must report to prison within weeks.

Former U.S. Attorney for Colorado Troy Eid, who led the office during the prosecution, said he was "elated."

"This shows there really can be equal justice regardless of someone's position in life," he said.

Nacchio's lawyer Maureen Mahoney said she was "profoundly disappointed" by the court's decision, and is optimistic the U.S. Supreme Court will review the case.

"Not only was the court intensely divided, with four of the nine judges concluding that Mr. Nacchio was denied a fair trial, but the majority's decision is in conflict with the decision of other courts of appeal throughout the country," Mahoney said in a statement.



Discussion

  • February 26, 2009

    9:29 AM

    gr8fuldude writes:

    This clown needs to go away, both literally and figuratively. Take Rush Limpbaugh, Ward Churchill, Rosie Odonnel and the entire cast of "American Idol" with him.

  • February 26, 2009

    11:09 AM

    Shaggy writes:

    Why Rush?
    Oh because you don't like him, I see, it is a personal agenda.
    Would the people at moveon and mediamatters be included in your list?
    How about the spewers on AM760?
    Do you want the fairness doctrine enacted to get rid of "select" medias?

    Anyways,
    Anshutz should be sharing a cell with Nachio but beings he is rich and powerful he didn't even have to testify in person.

    Anshutz is smart as a tack yet he didn't know what was going on?
    Yea right.

    But we just keep letting these crooks get away with corruption and not hold them accountable so it doesn't surprise me of all the corruption amongst CEO's.

  • February 26, 2009

    11:14 AM

    Tree writes:

    He robbed Qwest of enough $ to buy the Taj Rocky building and it's payroll.
    And Bush didn't pardon him? So sorry, game over, insert another quarter.
    Wait, let me check my monopoly board game for my free get out of jail card. Fresh out, so sorry, come again in my best 7/11 voice.

    Is there another corporation with a $100. stock right now ready to be robbed that we don't know about. Curious. How many more Enrons and Qwest are left to rob?

  • February 26, 2009

    12:10 PM

    Shaggy writes:

    Mark,
    It looks as though the Rocky will close Friday, tomorrow.
    My condolences and I wish you and yours well.
    Will be looking for you to pop up in some other media outlet.
    Take care, it has been fun...mostly:)

  • February 26, 2009

    12:29 PM

    Hogar De Vuelta (العودة) Committing criminal acts should not result in a benefit writes:

    Gr8,

    I think you need to distinguish those with whom you disagree ideologically, Rush, Rosie etc. with a criminal like Nacchio. I disagree vehemently with Rosie, but she has at least built her "empire" by her own "abilities." She did not steal from an established company.

  • February 26, 2009

    1:34 PM

    LCDR Mandingo NAM vet Field Negro writes:

    ROTFLMAO! White folks are too funny sometimes. Josephine Nacchio is a NAM draftdodging felon and stock fraud (FELON). He has appealed his conviction to the SCOTUS, where another know WHITE felon, in the form of (in) Justice Sam Alito, will reject or accept his appeal. Alito is a GWB clone. Both are UCMJ felons; AWOLees, deserters and guilty of illegal seperation and discharge. Like GWB, Alito was a no-show for his own 11 years of active military service. Meanwhile, U.S. Sen. Burris awaits his lynching from LimPbaugh (felonious crackhead) and the orher Jim Crows in the GOP.

    Hiding under their desks, humming and singing stanzas from "We Shall Overcome:, are BHO, NAACP, Congressional Black Caucus-CBC-comical blacks in congress, and National Assn. of Black Journalist.
    Gutless wonders, Judases, Benedict Arnolds, Sell-Outs, etc.

  • February 26, 2009

    1:50 PM

    Spongebob writes:

    Joe Nacchio and his minions took their little ant (Qwest) and by leveraging credit and other typical corporate-raider tricks managed to devour a cash-rich elephant (USWest). I know, I worked there and watched him do it. His arrogance and abusive management style was legendary.

    Then the demolition began. Now what was once a successful, cash-rich corporation is now a borrower / loser struggling to survive, and all the cash is gone - paying off the debt Nacchio ran up to buy / gut USWest in the first place. Meanwhile Nacchio and his crooked pals (and pal"ettes") filled their pockets and purses.

    And you're right: the teflon don Anschutz stands by without getting any dirt on him (he lets Nacchio get dirty) and claims "I know nothing."

    Nacchio needs to go to PRISON ASAP and it is just too damn bad Anschutz isn't going with him - they could keep each other "company."

  • February 26, 2009

    7:24 PM

    Gale writes:

    I say lock him and all the other execs that have screwed the little people away and throw away the key. I retired from U S West and I think for what he did to all of us he should spend a long time in Prison. I hope he loses everything he owns and see how the little people have had to live!!!!!

  • February 26, 2009

    7:27 PM

    Gale writes:

    I say lock him and all the other execs that have screwed the little people away and throw away the key. I retired from U S West and I think for what he did to all of us he should spend a long time in Prison. I hope he loses everything he owns and see how the little people have had to live!!!!!

  • February 26, 2009

    7:30 PM

    Gale writes:

    I say lock him and all the other execs that have screwed the little people away and throw away the key. I retired from U S West and I think for what he did to all of us he should spend a long time in Prison. I hope he loses everything he owns and see how the little people have had to live!!!!!

  • February 26, 2009

    9:42 PM

    freemarketworks writes:

    Nachio screwed many stock holders and stake holders of Qwest. As a matter of fact, he stole the retirements and dreams of a large number of loyal employees. We can only hope that he ends up being cell mates with a guy that wears size 15 shoes and has hands the size of size of a gorilla. This is another way that the free market works!

  • February 27, 2009

    7:07 AM

    Larry Lloyd writes:

    Unfortunately, Nachio will only be placed in minimum security prison, but considering that he stole so many people's dreams and money, he should be sentenced for a longer period of time and his HD television and computer priveledges removed. If he does get a tv he should only get a spongebob show.(one) What he will be getting (if anything) is just nothing to what he deserves.

Join the discussion

Required
Required (Will not be published or sold)

Talk to me

Featured today

Today's poll

Search this blog

Recent posts

Chat transcripts

Caption this!