DENVER (AP) — A federal appeals court ruled Wednesday that former Qwest Communications CEO Joe Nacchio can remain free on bond while he appeals his insider-trading conviction.
Nacchio was sentenced to six years in prison on July 27 after a jury convicted him of 19 insider trading counts stemming from the sale of $52 million worth of stock.
His lawyer, Herbert Stern, said Wednesday's order from the 10th U.S. Circuit Court of Appeals means --> Nacchio will remain out of prison on the same $2 million bond that was in effect during his trial.