[1st-mile-nm] No New Criminal Trial for Nacchio

[Marianne Granoff]

FYI.


New Mexico Business Weekly - January 13, 2010

http://albuquerque.bizjournals.com/albuquerque/stories/2010/01/11/daily23.html?ed=2010-01-13&ana=e_du_pub

<http://ad.doubleclick.net/jump/bzj.albuquerque/article_page;beh=;pos=print_728x90;vs=legal;sz=3x3;kw=albuquerque;ord=1263424856.52248.19467?>
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Business News - Local News

Wednesday, January 13, 2010, 9:35am MST

Judge: No new criminal trial for Nacchio


New Mexico Business Weekly

A federal judge on Tuesday denied ex-Qwest CEO 
Joseph Nacchio’s request for a new criminal trial on insider-trading charges.

The ruling by U.S. District Court Judge Marcia 
Krieger shot down Nacchio’s attorneys’ claim in 
March 2009 that a deposition from an ongoing 
Securities & Exchange Commission lawsuit amounted 
to new evidence that could have acquitted the imprisoned executive.

The motion sought to reverse Nacchio’s 19-count 
criminal conviction from 2007 that sent him to prison for six years.

Nacchio has been in federal prison in 
Pennsylvania since spring and has been ordered to 
pay $19 million in fines and pay back $52 
million. He appealed all the way to the U.S. 
Supreme Court, which last year declined to hear his case.

Nacchio’s failed motion in federal court in 
Denver claimed that, in an SEC deposition last 
year, former Qwest Communications International 
CFO Robin Szeliga contradicted her trial 
testimony about a warning she gave to Nacchio in 
2001 about the magnitude of looming revenue shortfalls at the company.

Judge Krieger ruled that Szeliga’s SEC deposition 
didn’t amount to new evidence, and the 
information in it wasn’t likely to have produced 
an acquittal had jurors heard it.

Separately, Krieger is overseeing the civil 
lawsuit filed against Nacchio and four other 
former Qwest executives that seeks to recover 
about $300 million in pay and stock earnings they received.

She’s also holding hearings to resentence Nacchio 
after the U.S. 10th Circuit Court of Appeals 
found that the trial judge, Edward Nottingham, 
incorrectly calculated Nacchio’s sentence.

Qwest is a major telecommunications provider in New Mexico.

Greg Avery of the Denver Business Journal, an 
affiliated publication, compiled this report.

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