Prison Life a Jolt For Nacchio?
Joe Nacchio, once accustomed to a seven-figure salary and multimillion-dollar bonuses, could soon be earning 12 to 40 cents an hour doing menial labor as a federal prison inmate. It's a dramatic fall for the former Qwest chief executive, who was found guilty Thursday of 19 counts of criminal insider trading. Each count could carry a maximum penalty of 10 years in prison and a $1 million fine. In prison, Nacchio, who earned an annual salary of $1.17 million from Qwest, could expect to work seven hours a day as a food server, plumber, painter, warehouse worker or groundskeeper, according to the Federal Bureau of Prisons. He could use his new salary to buy items from the prison commissary or to pay his phone bill.
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