Joseph Nacchio, the ex-CEO of Qwest Communications, was sentenced to six years in prison Monday for his role in an insider trading scandal that resulted in the loss of millions of dollars to Qwest investors and the termination of thousands of jobs at the regional Bell carrier between 2000 and 2002. Nacchio, who was slapped with $19 million fine and was also ordered to forfeit $52 million in illegal stock gains, joins the ranks of once highflying executives, such as former WorldCom CEO Bernard Ebbers and Enron CEO Jeffrey Skilling, who have been penalized for corporate fraud. The case involving Nacchio stems from an accounting scandal that took place between April 1999 and March 2002, during which $3 billion in Qwest revenues attributable to one-time sales were recorded falsely as recurring sales to meet financial targets. According to prosecutors, Nacchio used the inflated revenue figures as the basis for $52 million in stock sales during 2001—a time at which Nacchio was aware that his company’s finances were in trouble. During the period in question, and as a consequence of Nacchio’s actions, Qwest’s stock price plummeted from a high of $60 in 2000 to just $2 per share in 2002. Last April, a federal jury found Nacchio guilty of 19 counts of insider trading, prompting U.S. District Court Judge Edward Nottingham at Monday’s sentencing to rebuke Nacchio for “crimes of overarching greed.” Nacchio, who still faces civil fraud charges, is expected to appeal.