Former Qwest CEO Joe Nacchio Could Escape Jail Time
If only convicted Ponzi schemer Bernard L. Madoff had the medical problems of convicted inside trader Joseph Nacchio. The former Qwest chief executive officer is seeking more time to report to prison because he might need treatment for skin cancer, according to the Denver Business Journal, citing court filings that were unsealed yesterday. Nacchio, who was found guilty in 2007 of charges that he sold $52 million worth of company stock while falsely proclaiming the company to be healthy, has filed several motions, hoping not to be put behind bars by March 23, as a federal judge has ordered. Nacchio, who plans an appeal of his case to the U.S. Supreme Court, wants to stay out until at least April 7, as tests determine whether a growth on his leg is skin cancer that would require surgery. CBS4Â 's Dr. Dave Hnida calls the medical facts presented in Nacchio's paperwork vague and probably not serious enough to prevent him from going to prison.Â The Wall Street Journal pulls no punches, writing that Nacchio and his lawyer, Maureen Mahoney of Latham & Watkins, "are doing everything they can to ensure that Nacchio never has to see the inside of the prison known as FCI Schuykill," a white-collar prison with ample recreational opportunities, including horseshoes. The results of a biopsy are expected Friday, according toÂ The Denver PostÂ .
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