Fergie's Tech Blog

Prosecutors Say Ex-Qwest Chief Tried to Hide Assets

An AP newswire article, via The New York Times, reports that:

Joseph P. Nacchio, the former chief of Qwest Communications, who is on trial for insider trading, tried to hide $90 million in assets by transferring stock into accounts held solely by his wife, according to a prosecution motion made public Wednesday.

In the motion filed late Tuesday outside the jury’s presence, a prosecutor, Kevin Traskas, asked for permission to introduce evidence about the February 2002 transfer to counter the defense’s contention that Mr. Nacchio did not sell personal shares of Qwest Communications from 2001 through 2002.

posted by Fergie @ 3/28/2007 10:45:00 PM