DENVER—Former Qwest CEO Joseph Nacchio wants to withdraw his final appeal of his prison sentence for insider trading convictions.
Nacchio filed a motion Friday with the 10th U.S. Circuit of Appeals in Denver to drop the appeal contesting the length of his sentence. The request requires court approval.
A jury convicted Nacchio in 2007 on 19 counts of insider trading. He was sentenced to six years in prison and ordered to pay a $19 million fine and forfeit $52 million.
However, the federal appeals court ruled the sentence was improperly calculated, and a judge last year shaved two months from the prison term and $7.4 million from the forfeiture amount.
Last month, a federal judge approved a settlement of a civil lawsuit the Securities and Exchange Commission filed against Nacchio.
