In one case of several against corporate executives, CEO Joe Nacchio was found guilty of illegally dumping $52 million in stock in the midst of a massive accounting scandal at Quest Communications.
Mr. Nacchio is the most recent to be convicted by the government’s push to successfully prosecute white-collar crime. “The government has another notch in their belt,” Houston securities lawyer Tom Ajamie said. “They’ve had a tremendous winning streak in these corporate crime cases.”