Tenth Circuit Upholds Nacchio’s Conviction; Prison Likely Very Soon

Law Blog has the dish on the affirmation of Qwest CEO Josep Nacchio’s insider trading conviction. While upholding the conviction, the Court also revoked his bail, so Nacchio is likely headed to prison in the very near future.

Something I find interesting is that Nacchio was represented by Latham & Watkins’s Maureen Mahoney. Mahoney successful argued Arthur Andersen’s case before the Supreme Court, which unanimously overturned the convictions.

Furthermore, Latham & Watkins is also the law firm of record for Sean Berkowitz and until she offered a job in Obama’s DOJ, Kathryn Ruemmler, both of whom are former Enron Task Force members.

Additionally, Cliff Stricklin, lead prosecutor at Nacchio’s trial, was also a member of the ETF.