5. Joseph Nacchio
Then along comes Joseph Nacchio, born June 22, 1949, former chairman of the board and chief executive officer of Qwest Communications between 1997 to 2002, who along with six other former executives, had the book thrown at them by the U.S Securities and Exchange Commission for a $3 billion financial fraud.
First Nacchio was sentenced to 6 years in prison but remained on bail for no less than $2 million while his appeal was pending. It looked like things were going his way when U.S. appeals court overturned his conviction due to a key expert witness being wrongfully barred from testifying. Though it hardly improved Nacchio’s reputation he at least dodged jail until the next February when the guilty-verdict was reinstated and he was ordered back behind bars. But Nacchio had been here before, so the next month he asked a federal judge to reconsider his bail until the Supreme Court reached a decision on his appeal yet by April he was once again – back behind bars.
On July 27, 2007, he was sentenced to six years at the Federal Correctional Institution, Schuylkill in Schuylkill County, Pennsylvania. Since 2013, he has been a free man.