Prosecutors and defense attorneys in the criminal insider trading case of former Qwest chief executive Joe Nacchio met with a federal judge this afternoon to finalize procedural matters for the upcoming trial.
Though it was the last scheduled hearing before the start of the trial, defense attorney Herb Stern said he may request another meeting for this week. Jury selection is set to begin March 19.
First assistant U.S. Attorney and lead prosecutor Cliff Stricklin disclosed during today’s hearing that assistant U.S. attorney James Hearty will present the opening argument on behalf of the government.
Stern is expected to conduct the opening for Nacchio.
Following the 10-minute public hearing, the parties met in a closed-door session for about 30 minutes to discuss the handling of classified information connected to Nacchio’s defense during trial.
Nacchio is accused of selling $100.8 million in Qwest stock in early 2001 while he knew the company’s finances were faltering. His attorneys have contended that Nacchio had a positive outlook for Qwest at the time because he believed the company was in line to receive lucrative contracts from top-secret government agencies.
Staff writer Andy Vuong can be reached at 303-954-1209 or avuong@denverpost.com.
