Friday, July 27, 2007

Ex-Qwest CEO fined, sentenced to prison, retribution?

Ex-Qwest CEO fined, sentenced to prison:

"A federal judge on Friday ordered former Qwest Communications chief executive officer Joe Nacchio to pay $70 million and serve six years in prison as part of his punishment for insider trading in the spring of 2001.

Nacchio was convicted in April of improperly selling $52 million in Qwest stock in 2001 while he failed to tell investors of the financial risks facing the company. The court on Friday ordered Nacchio to surrender that $52 million and fined him an additional $19 million."

This is the same man who refused to participate in the administrations secret wiretapping of American citizens.

Were any of the other Bells CEOs transactions investigated so thoroughly? Was this retribution?

con·cept: Ex-Qwest CEO fined, sentenced to prison, retribution?