JediDefender.com Forums
Community => Watto's Junk Yard => Topic started by: Scott on March 5, 2004, 03:15 PM
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Martha was found guilty on all 4 counts of obstruction and perjury. I wonder how she'll decorate her cell?
Stewart Guilty (http://story.news.yahoo.com/news?tmpl=story&ncid=&e=1&u=/ap/20040305/ap_on_bi_ge/martha_stewart)
NEW YORK - Martha Stewart (news - web sites) was convicted Friday of obstructing justice and lying to the government about a superbly timed stock sale, a devastating verdict that probably means prison for the woman who epitomizes meticulous homemaking and gracious living.
The jury of eight women and four men deliberated three days before convicting Stewart of all counts against her. The charges carry up to 20 years in prison, but Stewart will most certainly get much less than that under federal sentencing guidelines.
Her ex-stockbroker Peter Bacanovic, 41, was convicted on all but one count against him, making a false statement.
The charges centered on why Stewart dumped about $228,000 worth of ImClone Systems stock on Dec. 27, 2001, just a day before it was announced that the Food and Drug Administration (news - web sites) had rejected ImClone's application for approval of a cancer drug, an announcement sent ImClone's stock plummeting.
Stewart and Bacanovic claimed they had a standing agreement to sell when the price fell below $60. But the government contended that was a phony cover story and that Stewart sold because she was tipped by her broker that ImClone CEO Sam Waksal was frantically trying to dump his own holdings.
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:P
Country club prison is nice, I hear.
Kevin
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I'm no fan but, but considering that her company is, in an instant, essentially worth squat now, plus looking at a minimum of 16 months in the pokey or up to 20(!) - she's ruined.
Is that a fair penalty for the "crime"?
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I a sick and tired of corprate big wigs circumventing the system and profiting from insider info. She knew the risks and gambled that no-one would find out. She guessed wrong and now has to accept those consequences.
Like the one juror stated
"Maybe it's a victory for the little guys who lose money in the market because of these kinds of transactions," said juror Chappell Hartridge.
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I wonder if she'll get to work in the prison kitchen?
Buh Bye Martha
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i am glad the b is going to jail. read the last line of the yahoo report
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I hope that Jeff Skilling and/or Ken "Kenny boy" Lay are next!
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(http://www.goodeatsfanpage.com/Humor/images/MS-LIV.jpg)
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Good one, Dale!!
When this first hit the news last year, I felt that they were trying to direct atthention off of the other inside trading debacles and desided she was as good as a scapegoat as any. Then I started reading some of the evidence that was being collected and during her trial when all the evidence was presented, I realized she was as guilty as hell. As stated above, she got caught and has to pay the price. No pity party here for Martha or the rest of the bunch that will be going to trial soon.
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I get why it says www.marthastewart.con
Cause shes a convict!
Kevin
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surprisingly her site doesnt sell black and white striped outfits...marthas new favorite outfit
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I don't really understand what she did wrong? ???
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I don't really understand what she did wrong? ???
She was investigated because of insider trading. This was because she got an a tip from her broker that iclone, a stock she owned, was having a drug denied from the FDA. This is horrible for the stock. She sold before the FDA thing was made public. This tip is called insider trading.
She was not convicted of this, but she was convicted for basically lying about it. She had her broker change her documents to say she was to sell when the stock hit 60. They lied about the whole thing...you cant do that.
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A little more on that.
The reason you can't do that is tons of regular, everyday ordinary people don't have access to that type of information. Buying and selling stocks involves risk. If some people can take away that risk, but others can't, it renders the system unfair. Now there is no way to make it completely unfair. The president of Iclone apparently knew about the rejection and started dumping stock, but hey, it is his company. Basically a big no-no to use inside information for personal gain (or to avoid personal loss).
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How come all the people that I look up to turn out to be twisted and evil?
No seriously. I do not care what she did. People do stupid things in GREED. She got caught and now she has to pay.
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I'm willing to bet her cell will be nicer than my $400 a month apartment.
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As long as its not like this!
Martha's Cell 1 (http://www.joe-ks.com/archives_jun2003/MarthaLiving2.jpg)
Or this!
Martha's Cell 2 (http://www.joe-ks.com/archives_jun2003/MarthaLiving3.jpg)
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i like the second picture because you can see only on bed is decorated. everyone else in the cell hates her i bet. what was i talking about?
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This just in...
Sentencing set for Martha Stewart (http://edition.cnn.com/2004/BUSINESS/07/15/martha.stewart/index.html)
Place your bets! I say 1 day time served. Heck, I'm starting to sound like I'm at work! :D
Next case, $2875, pay or stay! ;D
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Word is she just got 5 months.
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Yep, 5 months in prison and $30,000 fine, and then another 5 months of home confinement along with 2 years supervised probation after she gets out of the "big house"...
Martha gets five months (http://money.cnn.com/2004/07/16/news/newsmakers/martha_sentencing/index.htm?cnn=yes)
Hehe.
Jeff
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5 months! What a joke.
She can do that standing on her head. Thats what we say to the cons at work. She will be out in know time, well I guess that depends on how your system works compared to ours.
Now that she has done the crime, its best that she does the time.
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It's even better. That five months at home is concurrent with the 5 months in the big (albeit cushy, not confined) house. Her lawyer is appealing and I'll bet she stays out during that process, serving her 'at home' portion of the sentence. By the time the appeal process is wrapped up she'll have done her five months at home. The word concurrent is key here. She'll have been forced to stay at her (probably) palatial home for a couple of months. Done. ::)
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It's even better. That five months at home is concurrent with the 5 months in the big (albeit cushy, not confined) house. Her lawyer is appealing and I'll bet she stays out during that process, serving her 'at home' portion of the sentence. By the time the appeal process is wrapped up she'll have done her five months at home. The word concurrent is key here. She'll have been forced to stay at her (probably) palatial home for a couple of months. Done. ::)
I've had the news on since I got home from work... I'm not hearing anything about this... They were basically saying that she'd have her house arrest afterwards, but would only be required to stay at her house 1 full day a week and she won't be able to be gone more than 48 consecutive hours or something to that effect...
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5 months! What a joke.
As long as you're not the one doing the time, I guess.