- The Washington Times - Tuesday, April 14, 2009

WASHINGTON (AP) - Supreme Court Justice Stephen Breyer has turned down former Qwest CEO Joseph Nacchio’s plea to remain free during the appeal of his conviction for insider trading.

Breyer offered no comment on his decision Tuesday to reject Nacchio’s bid to remain free on bail. Earlier in the day, Nacchio reported to a prison camp in Minersville, Pa., to start a six-year term.

He was convicted in 2007 of selling $52 million worth of stock based on nonpublic information that Denver-based Qwest faced trouble meeting its sales targets. He was acquitted on 23 other counts of insider trading.

The high court has yet to act on Nacchio’s appeal of his conviction. Tuesday’s decision only applies to the start of his prison term.



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