Financial Services Industry
Industry: Email Alert RSS FeedReverse Spin: Martha Stewart's goose is cooked.(Briefs)
Investment News, March, 2004
Byline: Frederick P. Gabriel Jr.
It may be coming to a newsstand near you: "Martha Stewart Living in Jail.''
The woman who created an empire out of quiche and curtains was convicted Friday of all four charges of obstructing justice and lying to the government. Prosecutors had contended that Ms. Stewart lied about her decision to sell $228,000 worth of New York-based ImClone Systems Inc. stock a day before the government said it had rejected the company's application for approval of a cancer drug.
The charges carry up to 20 years in prison, though it is unlikely that she will serve that much time. Sentencing is set for June 17.
Peter Bacanovic, Ms. Stewart's former stockbroker, was convicted on four of five counts against...
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