Qwest's Nacchio Was 'in Tears' Over Son's Suicide Try

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DENVER -- Joe Nacchio "broke down in tears" after his son attempted suicide, and he asked to resign as Qwest Communications' chief executive at a time when prosecutors contend he was illegally selling stock, Qwest founder Philip Anschutz said Thursday.

Nacchio, who resided in New Jersey and traveled to Denver for Qwest business, wanted to be closer to his family, the Denver billionaire told jurors in Nacchio's $101 million insider trading trial.

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Qwest's Nacchio Was 'in Tears' Over Son's Suicide Try

"He was quite agitated, very emotional. In fact, he broke down in tears," Anschutz said of Nacchio during a private January 2001 meeting in Denver.

Nacchio described his son's actions and then said, "Phil, I want to resign," Anschutz recalled. "I was...

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