Fmr Qwest CEO Nacchio Convicted Of Insider Trading

Fmr Qwest CEO Nacchio Convicted Of Insider Trading

Joseph P. Nacchio, the telecommunications entrepreneur whose fortune swelled with the Internet boom, was convicted yesterday of 19 counts of insider trading for selling more than $50 million of Qwest Communications International stock when he knew the company's prospects were dwindling in 2001.

Nacchio, the former Qwest chief executive, did not take the witness stand to testify during the trial in Denver. The eight-man, four-woman jury acquitted him of 23 more insider-trading charges.

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