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Ex-Qwest Chief Nacchio Withdraws Appeal of Sentence

Joseph Nacchio, the former Qwest Communications International Inc. chief executive officer convicted of insider trading, withdrew an appeal of his 70-month prison sentence, the U.S. Attorney in Denver said today.

Nacchio, who has served more than 21 months of his term, was resentenced last year by U.S. District Judge Marcia Krieger in Denver after a federal appeals court ruled a different trial court judge incorrectly calculated his gains from stock sales. Krieger’s sentence reduced Nacchio’s original term by two months.