Nacchio is free on a $2 million bond, pending an appeal.
A jury of eight men and four women reached their verdicts after six days of deliberation. The convictions came despite what legal analysts said was a weak federal case against Nacchio. The jury found Nacchio guilty on a critical count involving a specific stock sale on April 26, 2001.
The early 2001 stock sales occurred, prosecutors alledged, when Nacchio should have known that Qwest revenues were based on one-time sales of fiber capacity. A federal probe found that Qwest falsely reported the sales as recurring revenue between April 1999 and March 2002.
As a result, Qwest improperly reported $3 billion in revenue. The revenue played a role in Qwest's acquisition of US West Inc.
Nacchio also faces a civil suit in connection with the insider-trading case.