How Joe Nacchio Is Still Trying to Get Out of Jail
Joe Nacchio has reached yet another legal dead-end after his motion to overturn his conviction for illegal insider trading was denied by a federal judge. According to The Denver Post, the former Qwest chief executive argued new evidence that came to light after his 2007 conviction meant his case should be thrown out. Specifically, Nacchio's attorneys pointed to deposition testimony by former Qwest Chief Financial Officer Robin Szeliga in a pending civil fraud case, contradicting her trial testimony about a warning she gave to Nacchio in 2001 regarding the size of revenue shortfalls at the company (via the Denver Business Journal). But U.S. District Judge Marcia Krieger failed to discern "a reasonable probability that presenting Ms. Szeliga's deposition testimony would result in an acquittal in this case." Late last year, the U.S. Supreme Court rejected a separate appeal by Nacchio, in which his lawyers claimed he did not get a fair trial because the trial judge excluded testimony from an expert witness for the defense. Nacchio is still fighting for a new sentence, arguing a trial judge incorrectly calculated the amount of loss to Qwest (via Reuters).
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