RENEE MONTAGNE, Host: Joseph Nacchio was found guilty of selling off more than $100 million of stock when he knew that telecommunications company was about to collapse. Nacchio was convicted on 19 counts of insider trading, which means he faces a 190 years in prison. He's expected to be sentenced to significantly less time behind bars, and his lawyers intend to appeal.
The former CEO of Qwest has been convicted of 19 counts of insider trading. Joseph Nacchio sold more than $100 million of stock ahead of the telcom company's imminent collapse. He now awaits sentencing, although his lawyers intend to appeal the conviction.