Former Qwest CEO sentenced to six years for insider trading Michael Sung at 2:27 PM ET
[JURIST] US District Judge Edward Nottingham Friday sentenced [press release] former Qwest Communications [corporate website; JURIST news archive] CEO Joseph Nacchio to six years in prison and ordered him to pay the maximum $19 million fine and forfeit of $52 million in assets obtained through insider trading. Nacchio, who was convicted of 19 counts of insider trading [JURIST report] in April, had faced a maximum sentence of up to 10 years in prison and a $1 million fine for each count.
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