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Former Qwest CEO Nacchio Found Guilty

Jurors find against him on 19 of 42 counts.
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Former Qwest Communications (Q) CEO Joseph Nacchio was found guilty Thursday of 19 counts of insider trading related to transactions made in 2001, the online version of The Wall Street Journal reported.

Following six days of deliberation, the jury found Nacchio innocent on 23 other counts. Nacchio could face 10 years of prison for each guilty count.

Nacchio is expected to appeal the verdict and will remain free until sentencing, which is tentatively scheduled for late July, the


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Nacchio resigned from Qwest in 2002.