BP Editors
Ah, insider trading. It’ll get you every time, at least as long as the government continues its campaign of cracking down on this pervasive tendency among Wall Street execs and CEOs. Nacchio was once the CEO of Qwest Telecommunications, and was a controversial figure long before he was ever convicted of insider trading, selling off millions of stocks during the telecom bust. According to the Wall Street Journal, he was not well-loved by Qwest employees, “some of whose retirement accounts were drained during his tenure and when Qwest’s stock took a dive.” Nacchio spent nearly five years in prison and maintains his innocence to this day. He was released from prison this year.
