10 Biggest Insider Trading Scandals Ever to Rock Companies

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4. Joseph Nacchio

Up next in our list of biggest insider trading scandals ever to rock companies is Joseph Nacchio’s trial which was highly controversial due to his defense that the charges against him were a retaliation of the federal government for his refusal to participate in a surveillance program initiated by the NSA without a court order. He was accused of fraud and using privileged information to make a profit of some $52 million while being the CEO of Qwest. Unfortunately for Nacchio, the court rejected his defense and he was forced to forfeit all of his profits, plus pay a $19 million fine and serve six years in jail. He was released in 2013.

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