Government Wants Nacchio Fine Sent To Victims Fund
DENVER (AP) – The Justice Department wants a federal judge to release $19 million in fines paid by former Qwest CEO Joseph Nacchio so the money can be transferred to the national Crime Victims Fund.
The fines were part of Nacchio’s sentence after he was convicted of insider trading in 2007. He is also serving a six-year prison sentence.
The fine money was placed in an interest-bearing escrow account while Nacchio appealed his case.
The Denver Post reported Monday that government lawyers filed a request last week for release of the money. Their motion says all the appeals are over.
The U.S. Supreme Court declined to review Nacchio’s case in 2009, and in February he dropped his final appeal of his sentence.
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