Denver ? Joe Nacchio, a former AT&T executive tapped to transform Qwest Communications into a major telecommunications competitor, was convicted Thursday of 19 of 42 insider trading charges after one-time top executives described his relentless drive to meet revenue projections without revealing financial risks.

A federal jury deliberated six days before concluding on 19 counts that the former Qwest chief executive officer illegally sold $52 million worth of stock in April and May of 2001, when he knew the company faced financial challenges and relied heavily on one-time sales to meet revenue targets. The jury acquitted him on the other 23 counts stemming from sales in January and February.

U.S. District Judge Edward Nottingham set a July 27 sentencing date for Nacchio, who is free on $2 million bail. Each count carries a potential penalty of 10 years in prison and a $1 million fine. Nacchio also could be required to forfeit the $52 million, although the exact amount will be determined by the judge at sentencing.