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Trial of Qwest's Joe Nacchio Begins Monday

By Jeralyn, Section Crime in the News
Posted on Tue Mar 13, 2007 at 05:45:53 PM EST
Tags: Joseph Nacchio (all tags)
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I just got back from the courthouse picking up my press pass for 5280 to cover the trial of Qwest former CEO Joseph Nacchio which begins Monday. There will be a lot of national press folks in town for it, including Bloomberg News, the Wall St. Journal and NPR. The Rocky Mountain News and Denver Post will also be covering it.

Nacchio is charged with 42 counts of insider trading resulting from the sale of $100 million in Qwest stock in 2001. In 2000, Qwest was trading at $66.00 a share. In 2002, it was down to $5.00.

Qwest bought U.S. West in 2000.

The highlights for me will be opening statements and the testimony of those who accepted immunity or plea deals in exchange for cooperation against Nacchio.

More....

Since I do have my own cases, I won't be there full time. But, I'll be there a lot. At least I won't have to pay for airline tickets and hotels like I did for the Scooter Libby trial in Washington. So I won't be asking for donations.

Here's a profile of Herbert Stern, Nacchio's lead counsel. You can read about the lead prosecutor, Cliff Stricklin, here.

The trial is being presided over by U.S. District Court Judge Edward Nottingham. Since I always have a few cases pending before him, I'll be pretty polite in my coverage, but I won't hesitate to give my opinion of his rulings and my reaction to the lawyers' presentation and the testimony.
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