UPDATED Nacchio Gets Six Years, $71 Million In Forfeitures And Fine
Friday, July 27, 2007 at 1:09 pm
They came for their symbolic pound of flesh, the people Joe Nacchio screwed. They filled a federal courtroom Friday. They craned their necks to see the Qwest executive who had fired some of them and had overseen a stock-price crash that cost others their life savings.
Some of them grinned at the prospect of the man who had ruined their lives getting sentenced for 19 counts of insider trading. Most simply stared at him. The lawyer for some retirees talked about karma, that what goes around comes around.
Where Nacchio is going he won’t be coming back for six years.The convict, gray suit, white shirt, baby blue tie, sat amid a defense team that in a final