Ex-Qwest exec asks high court to delay prison term
Business Law
Former Qwest CEO Joseph Nacchio asked the Supreme Court on Monday to put off the start of his prison term for his conviction on insider-trading charges.
His lawyers filed an emergency appeal with Justice Stephen Breyer after the federal appeals court in Denver turned down Nachio's latest bid to stay out of prison while he asks the high court to review his conviction in 2007 involving the sale of $52 million worth of stock in Qwest Communications International Inc.
Nacchio has been ordered to report to a prison camp in Minersville, Pa., by noon Tuesday to start a six-year term.
He says he should be allowed to remain free pending the Supreme Court's consideration of his case because there is a reasonable chance the justices will agree to consider overturning the conviction.
Federal prosecutors have opposed Nacchio's request.
They have said Nacchio hasn't met the requirement of showing that his Supreme Court appeal would probably win him a new trial or acquittal.
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