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Appeal Bond Granted for Joe Nacchio

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Former Qwest CEO Joseph Nacchio caught a break today. The Tenth Circuit Court of Appeals ordered he may stay free on bond pending the outcome of his appeal. The two page order did not specify why the relief was being granted. The case will be heard on an expedited basis, with Nacchio’s opening brief due Oct. 9. Oral arguments will be held in mid-December. This isn’t a precedent-setting ruling. Bernie Ebbers of Worldcom and John and Timothy Rigas of Adelphi, for example, also were granted appeal bonds. Enron’s Jeff Skilling, on the other hand, was not. What it it does mean is that the 10th Circuit believes Nacchio’s appeal raises a substantial factual or legal question, which if decided in his favor, will likely result in reversal of the conviction or a new trial. A “substantial question” according to the Tenth Circuit is a “close” question or one that very well could be decided the other way.'” Nacchio’s motion for bond on appeal, denied by Judge Nottingham, was 59 pages long. It focused on four areas:

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