Business Services Industry
Charges against Martha Stewart Are Unusual, Not Unprecedented.
Knight Ridder/Tribune Business News, June, 2003
By Greg B. Smith, Daily News, New York Knight Ridder/Tribune Business News
Jun. 15--Two days before Martha Stewart was charged with lying to the feds about her sale of ImClone stock, regulators quietly nailed another executive for ImClone insider trading.
That exec, Eric Tsao, allegedly used insider knowledge to make a quick $50,000 on 2,000 shares of ImClone, then lied to the Securities and Exchange Commission about it when questioned.
The allegations against Stewart and Tsao are similar, with one exception: She got whacked with criminal charges, while Tsao -- a businessman from suburban Maryland -- was hit with civil charges from the SEC.
That difference, Stewart's lawyers say, is discrimination. And an examination of recent...
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