DENVER—Former Qwest CEO Joe Nacchio has lost another bid to remain free while he appeals his insider-trading conviction to the Supreme Court.
A three-judge panel of the 10th U.S. Circuit Court of Appeals denied Nacchio’s request in a 2-1 ruling Monday, one day before Nacchio is to report to prison in Pennsylvania on an insider trading conviction.
Last week, a federal judge also rejected Nacchio’s request to remain free, saying he hadn’t shown the appeal of his conviction would lead to a new trial or acquittal.
Nacchio’s attorneys have indicated they will ask the Supreme Court to let Nacchio stay out of prison during his appeal.
Nacchio had asked the appeals court to allow him to remain free on bail, or to at least postpone his surrender date.
