Attorneys seek to seal Nacchio questions

Attorneys seek to seal Nacchio questions

	Published : Mon, 22 Jan 2007 21:38 By : Agencies Print this Story

DENVER (AFX) - Prosecutors and attorneys representing former Qwest Chief Executive Joe Nacchio have asked a federal judge to withhold from the public a questionnaire that will be used to help select jurors in Nacchio's trial on insider trading charges.

The two sides submitted their request Friday in U.S. District Court, where Nacchio is scheduled to stand trial March 19. A pretrial hearing is set March 1.

Assistant U.S. Attorney Cliff Stricklin and Nacchio attorney Herbert Stern said the questionnaire will help them determine how pretrial publicity has affected prospective jurors and whether any hold prejudicial opinions.

'Public filing of the proposed questionnaire will undoubtedly attract the type of public discussion and attention that will hinder the purpose of a questionnaire,' the attorneys wrote.

Nacchio, a former chief executive officer at Qwest Communications International Inc., is charged with 42 counts of insider trading for allegedly selling $101 million worth of stock in 2001 based on inside knowledge that the Denver-based telephone company would be unable to meet revenue targets.

Each count carries a penalty of up to 10 years in prison and a $1 million fine. Nacchio has pleaded not guilty and remains free on bail.

Defense attorneys have said Nacchio believed the Denver-based company would get hundreds of millions of dollars worth of classified government contracts that gave Nacchio hope for Qwest's financial future.

Qwest, the primary phone service provider in 14 mostly Western states, reported total revenue of $19.6 billion in 2001, the year of the trades in question. Of that, $322 million was attributed to federal contracts, and less than half of that came from classified contracts, according to court filings.

Separately, Nacchio also is one of several former Qwest executives accused by the Securities and Exchange Commission in a civil case alleging they orchestrated a financial fraud that forced the company to restate billions of dollars in revenue. That case is pending.