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DENVER — The Department of Justice will let stand a federal court decision ordering a shorter prison sentence for ex-Qwest CEO Joe Nacchio, sentenced to six years for insider trading.
Spokeswoman Laura Sweeney said Monday that the department won't appeal the ruling by a three-judge panel of the Denver-based 10th U.S. Circuit Court of Appeals.
The July 31 ruling said Nacchio's sentence was too long because the trial judge overstated the amount of Nacchio's alleged financial gain.
The sentencing portion of the case will return to federal court in Denver. The trial judge, Edward Nottingham, resigned last year.
Nacchio began serving his sentence in April at a federal prison camp in Pennsylvania. He was convicted in 2007 on 19 counts of insider trading connected to his sale of $52 million in Qwest stock.
