Business Services Industry
Former Broker's Assistant Testifies that Stewart Used Insider Stock Tip.
Knight Ridder/Tribune Business News, February, 2004
By Greg B. Smith, Daily News, New York Knight Ridder/Tribune Business News
Feb. 5--The star witness in the Martha Stewart trial lived up to his billing yesterday, testifying that the domestic diva used an illegal insider stock tip to sell off all her shares of ImClone.
The testimony from ex-broker's assistant Douglas Faneuil named Stewart as part of a criminal conspiracy for the first time.
As soon as Stewart found out that her friend Sam Waksal, ImClone's founder, was trying to dump his and his family's stock, Faneuil said, her orders were clear: Sell "all my shares."
Stewart reached Faneuil by phone at Merrill Lynch the afternoon of Dec. 27, 2001.
"Hi, this is Martha. What's going on with Sam?" Stewart allegedly...
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