Originally posted by maul's woman
Guilty of selling her 4,000 ImClone stocks based on insider information which is against the law. She sold all her stocks a day before the feds released information stating that Erbitux was no good as a cancer medication treatment. She and her broker (Bacanovic) and her long time stock friend (Wakslat [sp?]) got indicted.
She was never charged with insider trading. She wasn't even accused of insider trading. The only reason this thing even went to trial was that she rebuffed the Feds when they first asked her to come in for questioning. The Feds' whole case was based on insider trading, which they couldn't even prove. The jury was simply moronic in that the decision was made solely because she didn't testify.
I am not a fan of Martha Stewart in the least bit, but she was the target of a witchhunt. I only hope that she wins her appeal and countersues the government for the millions that she lost.