Jailed Qwest Telecom CEO Settles With SEC

Law360, New York (January 25, 2011, 7:13 PM EST) -- The U.S. Securities and Exchange Commission said Tuesday it had agreed to a consent judgment with a former Denver telecom CEO who’s already serving five years in prison for illegally selling $45 million of his own company’s stock.

The final consent judgment, filed Friday in the U.S. District Court for the District of Colorado, says that former Qwest Communications International Inc. CEO Joseph P. Nacchio is liable for the $45 million he earned by selling company stock he knew would tumble, but it frees him from...
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