Former Qwest CEO Joe Nacchio, who served more than four years in prison after an insider-trading conviction, will be featured in a documentary on white-collar criminals that airs tonight on CNBC.
In the documentary, Nacchio and other former convicts such as former Tyco CEO Dennis Kozlowski describe their experiences of going from a pampered life to one of boredom, isolation and fear.
They also talk about the difficulties of re-entering society.
“Our criminal-justice system is broken and urgently needs reform,” Nacchio wrote in an posted Tuesday on CNBC.
Nacchio, , also maintains his innocence and blamed the federal government for his imprisonment, officials for CNBC said in a preview of the documentary.
Nacchio headed Qwest from 1997 to 2002. In the latter part of that tenure, Qwest faltered financially and the company was accused by federal regulators of booking billions of dollars of false revenue.
Nacchio was charged with 42 counts of insider trading in 2007, but was convicted of 19. A jury found him guilty of selling $52 million in Qwest stock based on non-public information in 2001.
in 2011.
“White Collar Convicts: Life on the Inside” premiers tonight at 8 p.m. Mountain on CNBC.
Alicia Wallace: 303-954-1939, awallace@denverpost.com
