During 1999 and 2000, Qwest consistently met its aggressive revenue targets and became a darling to its investors. Yet, when the company announced its intention to restate revenue in August 2002, from a high of $55 per share in July 2000. Civil and criminal charges related to fraudulent activity were brought against several Qwest executives, including CEO Joseph Nacchio. Nacchio was convicted on 19 counts of illegal insider trading, and was sentenced to six years in prison in July 2007. He was also ordered to pay a $19 million fine and forfeit $52 million that he gained in illegal stock sales.