Age, Biography and Wiki

Joseph Nacchio was born on 22 June, 1949 in United States, is an American executive (born 1949). Discover Joseph Nacchio's Biography, Age, Height, Physical Stats, Dating/Affairs, Family and career updates. Learn How rich is he in this year and how he spends money? Also learn how he earned most of networth at the age of 74 years old?

Popular As N/A
Occupation N/A
Age 74 years old
Zodiac Sign Cancer
Born 22 June 1949
Birthday 22 June
Birthplace N/A
Nationality United States

We recommend you to check the complete list of Famous People born on 22 June. He is a member of famous executive with the age 74 years old group.

Joseph Nacchio Height, Weight & Measurements

At 74 years old, Joseph Nacchio height not available right now. We will update Joseph Nacchio's Height, weight, Body Measurements, Eye Color, Hair Color, Shoe & Dress size soon as possible.

Physical Status
Height Not Available
Weight Not Available
Body Measurements Not Available
Eye Color Not Available
Hair Color Not Available

Dating & Relationship status

He is currently single. He is not dating anyone. We don't have much information about He's past relationship and any previous engaged. According to our Database, He has no children.

Family
Parents Not Available
Wife Not Available
Sibling Not Available
Children Not Available

Joseph Nacchio Net Worth

His net worth has been growing significantly in 2023-2024. So, how much is Joseph Nacchio worth at the age of 74 years old? Joseph Nacchio’s income source is mostly from being a successful executive. He is from United States. We have estimated Joseph Nacchio's net worth, money, salary, income, and assets.

Net Worth in 2024 $1 Million - $5 Million
Salary in 2024 Under Review
Net Worth in 2023 Pending
Salary in 2023 Under Review
House Not Available
Cars Not Available
Source of Income executive

Joseph Nacchio Social Network

Instagram
Linkedin
Twitter
Facebook
Wikipedia
Imdb

Timeline

1949

Joseph P. Nacchio (born June 22, 1949 in Brooklyn, New York) is an American executive who was chairman of the board and chief executive officer of Qwest Communications International from 1997 to 2002.

Nacchio was convicted of insider trading during his time heading Qwest.

1970

and graduated in 1970 from New York University with a B.S. in Electrical Engineering.

1986

Later he earned an MBA from New York University and a Master's degree in Management (SM) as a Sloan Fellow from the MIT Sloan School of Management in 1986.

1990

He was Chairman of the latter and was given a top secret security clearance in the late 1990s.

1997

Nacchio joined Qwest in 1997 from AT&T Corporation.

While Chairman, Nacchio was serving on two federal advisory panels—the Network Reliability and Interoperability Council and the National Security Telecommunications Advisory Committee.

1999

They were accused of a $3 billion financial fraud between 1999 and 2002 and of benefiting from an inflated stock price.

In its case, the government stated that Nacchio continued to tell Wall Street that Qwest would be able to achieve aggressive revenue targets long after he knew that they could not be achieved.

This helped it buy up regional phone rival US West, the government alleged.

For his part, Nacchio maintained that he believed Qwest would soon be receiving several large government contracts.

2000

In 2000, during Nacchio's tenure as Qwest CEO, the company acquired its regional rival US West.

2001

He claimed in court, with documentation, that his was the only company to demand legal authority for surreptitious mass surveillance demanded by the NSA which began prior to the 11 September 2001 attacks.

According to a The Washington Post report, Nacchio claimed that the National Security Agency had asked Qwest in February 2001 to participate in a surveillance program; Nacchio said that after he declined, the NSA punished Qwest by dropping a contract worth hundreds of millions of dollars.

Nacchio had been selling his Qwest stock as early as January.

Qwest stock began a sharp decline in May 2001, falling from $38 to below $2 by August 2002.

Each count carries a potential 10-year jail term and corresponds to a sale of Qwest shares, including a flurry in April–May 2001, when Nacchio sold almost $39 million in stock.

At the time, Qwest was trading between $41.12 and $38.31.

2002

In 2002, Qwest admitted to false accounting during the time of the merger.

Joseph P. Nacchio was the only head of a communications company to demand a court order, or approval under the Foreign Intelligence Surveillance Act, in order to turn over communications records to the NSA.

Nacchio resigned from Qwest in June 2002 and was replaced by former Ameritech CEO Richard Notebaert.

2005

On March 15, 2005, Nacchio and six other former Qwest executives were sued by the U.S. Securities and Exchange Commission.

On November 21, 2005, The Wall Street Journal reported that Nacchio "believed Qwest was doing well because it was getting lucrative secret national-security-related work from the federal government."

Nacchio claimed that he was not in a rightful state of mind when he sold his shares because of problems with his son, and the imminent announcement of a number of government contracts.

Nacchio was indicted on December 20, 2005 on insider trading charges in Denver, Colorado.

He was forced to surrender his passport for fear that he would flee the country.

The indictment against Nacchio charged him with 42 counts of insider trading.

2007

He was convicted of 19 counts of insider trading in Qwest stock on April 19, 2007 – charges his defense team claimed were U.S. government retaliation for his refusal to give customer data to the National Security Agency in February, 2001.

This defense was not admissible in court because the U.S. Department of Justice filed an in limine motion, which is often used in national security cases, to exclude information which may reveal state secrets.

Information from the Classified Information Procedures Act hearings in Nacchio's case was likewise ruled inadmissible.

On July 27, 2007, he was sentenced to six years in federal prison, and after appeals failed he reported to Federal Correctional Institution, Schuylkill in Schuylkill County, Pennsylvania on April 14, 2009 to serve his sentence.

Nacchio was convicted on 19 of 42 counts of insider trading case on April 19, 2007.

He was released on a $2 million bond.

On July 27, 2007, Nacchio was sentenced to six years in federal prison.

Federal Judge Edward Nottingham also ordered Nacchio to pay a $19 million fine and forfeit $52 million he gained in illegal stock sales.

2008

On March 17, 2008, the U.S. Court of Appeals for the Tenth Circuit overturned his conviction on the basis of defense expert witness testimony that was improperly excluded, and ordered a new trial before a different trial judge.

Herbert J. Stern led Nacchio’s defense team during the initial trial,

while Maureen Mahoney was lead defense attorney during the appeal.

2013

Nacchio finished serving his sentence on September 20, 2013.

He is the son of a New York City longshoreman and bartender