Where have you gone, Joe Nacchio? (Jail, possibly.)

The Tenth Circuit Court of Appeals on Wednesday reinstated former Qwest CEO Joe Nacchio's 19 insider-trading convictions. He's appealing the 5-4 decision to the Supreme Court, but unless the Supremes grant a stay within the next couple of weeks, Nacchio's on his way to federal prison.

The appellate court ruled that the judge in Nacchio's trial, US District Judge Edward Nottingham, was within bounds when he excluded a particular defense witness. It sent the case, its six-year sentence and its $52 million forfeiture back to a three-judge panel for review, but it also chucked an earlier ruling that Nacchio could be free on bail during the the appeals process and lifted a stay on his prison stint.

Nacchio, who is on the hook for $19 million in fines in addition to the $52 million forfeiture (representing two months' worth of stock-sales proceeds), also faces various civil suits in connection to those sales. The Supreme Court agrees to hear about one percent of the cases filed to it.