Martha Stewart: 5 Months in Prison

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Registered: 03-18-2000
Martha Stewart: 5 Months in Prison
1
Fri, 07-16-2004 - 11:08am
Martha Stewart Sentenced to 5 Months in Prison.

 


 

Martha Stewart, who built a catering company into a media empire, was sentenced on Friday to five months in prison for lying about a suspicious stock sale.

Stewart, 62, who has stepped down as an officer and board member of Martha Stewart Living Omnimedia, was found guilty in March of conspiracy, making false statements and obstruction of agency proceedings.

The judge also sentenced Stewart to two years of supervised release and ordered her to pay a fine of $30,000.

The case against Stewart stemmed from her suspicious sale of stock in biotech company ImClone Systems Inc. on Dec. 27, 2001.

Prosecutors said the sale occurred after her stockbroker Peter Bacanovic ordered an assistant to tip Stewart that ImClone founder Sam Waksal was dumping all his ImClone shares, knowing federal regulators were about to give a thumbs down to the company's anti-cancer drug.

While there were no criminal charges accusing Stewart and Bacanovic of insider trading, prosecutors said they conspired to cover up the secret tip. Bacanovic is to be sentenced later on Friday.


Martha Stewart: Past And Present.


"Back in 1995, Stewart gave her thoughts on the question of that sin. At the time, it seemed so pedestrian, it wasn't included in the story.

Safer: What are the one or two sins that you just cannot abide in people?

Stewart: Well, one thing is dishonesty. That bothers me a lot. And I’m always amazed at how many people are dishonest. And I think another may be amorality.

Safer: Amorality?

Stewart: Yes.

Safer: As opposed to immorality?

Stewart: Oh immorality. Well, amorality is just lack of morals. I think that that is another thing that bothers me a lot. I know it is.

Safer: I mean what.

Stewart: So they’re serious – I mean very serious.

Safer: What about sloth and laziness and idleness and sloppiness?

Stewart: All that can be corrected. That can be corrected. You know, dishonesty seems to be something once you get into it, people just seem not to be able to get out of it. "


Quote from.............


http://www.cbsnews.com/stories/2004/03/09/60II/main604872.shtml


 

cl-Libraone~

 


Photobucket&nbs

iVillage Member
Registered: 03-23-2003
Fri, 07-16-2004 - 11:26am
It was probably warranted...but I wonder just how much time Ken Lay will get in comparison...