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 DENVER (AP) - Former Qwest Communications chief executive Joe Nacchio, on trial for insider trading, attempted to hide $90 million in assets by transferring stock into accounts held solely by his wife, according to a prosecution motion made public Wednesday.
In the motion filed late Tuesday outside the jury's presence, prosecutor Kevin Traskas asked for permission to introduce evidence about the February 2002 transfer to counter the defense's contention that Nacchio did not sell personal shares of Qwest Communications from 2001 through 2002.
Defense attorney Herbert Stern filed a motion Wednesday stating that the asset transfer occurred after the time period in which Nacchio is accused of insider trading so it was irrelevant to this trial.
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