Nacchio Conviction Overturned

In the first of at least two cases that will unfold in the next two weeks,
a US appeals court on Monday overturned the conviction of the former chief of imploded telecoms giant Qwest Joseph Nacchio and sent the case back to court.

The 10th Circuit Court of Appeals in Denver ruled that the exclusion of key testimony from an expert defense witness during Nacchio’s hearing last year had resulted in an unfair trial.

That’s all I need to hear. Well, I know the 5th Circuit isn’t the 10th, and granted, I do not follow the Qwest case the way I do the Enron case, but it is appearing that prosecutor’s zest for getting white collar baddies might have resulted in sloppy casework.

Shocking, I know.  

Nevertheless, the government will retry Nacchio.   Some sources I have spoken to say this will likely be the case with Skilling.   Though of course it is agonizing for the family and for Jeff himself, I would much rather the government try him again in a fair, open, just trial than for him to suffer with the one he got. Ultimately, of course, the hope is that the court will recognize that Jeff’s opportunity for a fair trial has been irrevocably lost, and the government will dismiss with prejudice, sending Skilling home where he belongs.  Maybe with a cookie for his trouble.

Nacchio was one of many executives who made questionable decisions at the expense of companies, boards and employees during the 1990s boom.

Enron boss Jeffrey Skilling pulled a 24-year prison term last year, and WorldCom chief Bernard Ebbers was handed a 25-year sentence.

And Skilling will be walking among the normals again the first week of April. The tide is finally beginning to turn.