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Prosecutors To Turn Over Evidence In Nacchio Case

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Jan 25, 2007 12:38 pm US/Mountain

Prosecutors To Turn Over Evidence In Nacchio Case

DENVER (AP) ― Prosecutors have been ordered to hand over certain documents they would use in their case against former Qwest Chief Executive Officer Joe Nacchio. The prosecution claimed the documents would rebut what Nacchio said about the potential use of classified government information.

Nacchio is scheduled to stand trial March 19 in U.S. District Court on 42 counts of insider trading. He's pleaded not guilty.

A federal judge granted a defense motion Wednesday seeking the prosecution's evidence, saying prosecutors must comply with laws detailing the fair exchange of evidence pertaining to classified information.

Nacchio is accused of selling $101 million worth of stock in 2001, based on inside knowledge that the Denver-based telephone company would not be able to meet revenue targets. Each count carries a penalty of up to 10 years in prison and a $1 million fine.

Qwest is the primary phone service provider for Wyoming and 13 other states, mostly in the West.

(© 2007 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)

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