Sag Harbor

Jeffrey Skilling of Enron wasn’t the only CEO trying to make a personal profit by insider trading. Joseph Nacchio, former CEO of Qwest, was just convicted of 42 counts of insider trading in 2002. He’ll spend six years in jail, pay a fine of $19 million, and give up $52 million. They money will be paid to people who lost money on their Qwest shares due to Nacchio’s actions – a little justice, at least.