Prosecutors Seek Full Appeals Court Review in Nacchio Case

By: AP Email
By: AP Email

Denver (AP) Prosecutors have asked a federal appeals court to review an earlier decision granting a new trial to former Qwest Chief Executive Joe Nacchio.

The federal prosecutors asked the full 10th U.S. Circuit Court of Appeals Wednesday to reconsider the case and affirm Nacchio's insider trading conviction.

A three-judge panel of the appeals court last month threw out Nacchio's conviction on 19 counts of insider trading. It ruled the trial judge incorrectly excluded a defense witness' expert testimony.

Nacchio was convicted last year of illegally selling $52 million worth of stock when he knew that the Denver-based telecom was at financial risk but didn't tell investors.

The federal court jury acquitted Nacchio of 23 counts.

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