ImClone Founder Waksal Pleads Guilty

ABC News ^

[E. Pluribus Unum]

Doesn't Sam know what happens to rats in the Big House? </sarcasm>

[M. Thatcher]

The correct title and subtitle is:

ImClone Founder Waksal Pleads Guilty
ImClone Systems Founder Sam Waksal Pleads Guilty to Securities and Bank Fraud Charges

The poster's title is legally irresponsible and should be replaced immediately.

[js1138]

The Globe (tabloid) says Martha has appealed to Hillary for help. Doesn't she know that it only works the other way round?

[ErnBatavia]

The poster's title is legally irresponsible and should be replaced immediately.

Kinda like today when Daschle referred to "The Bush Recession", huh....

[hoosierskypilot]

An assistant to Stewart's broker at Merrill Lynch initially backed Stewart's account. But Douglas Faneuil later admitted that he was not honest when first interviewed by investigators from the Securities and Exchange Commission and the FBI.

As part of a guilty plea entered this month, Faneuil agreed to testify against Stewart and others if they are charged in connection with the scandal. Faneuil pleaded guilty to a misdemeanor charge of accepting gifts to withhold information about Stewart's sale of her shares.

[isthisnickcool]

Your title is not accurate.

[FreeTheHostages]

Your title is highly inaccurate. Your explanation has nothing to do with Waxsal's plea. You should have your title changed.

[b4its2late]

The Globe (tabloid) says Martha has appealed to Hillary for help. Doesn't she know that it only works the other way round?

Hillary will help all right. While Martha is treading water about 3 feet from the boat, Hillary will throw her a barbell with a fishnet attached to it....

[The_Victor]

Faneuil pleaded guilty to a misdemeanor charge of accepting gifts to withhold information about Stewart's sale of her shares.

Assuming the "gift" was from Stewart, that would add an obstruction of justice charge to the mix. While legally Stewart might have been able to wiggle out of the securities fraud charge (you may not be legally liable if you don't know that your info is "insider" info.) the obstructions of justice charge will not be so easy to dodge.

[MurryMom]

Not only is the title inaccurate, it is likely to be proved wrong in the near future. The feds don't have any evidence that MS profited from an illegal tip, which is why she remains unindicted several weeks after Billy Tauzin and other Repukie pols started insinuating publicly that MS committed some sort of wrongdoing, ala Dumbya in Harken Energy.

Just remember the rumors circulated by Repukie politicos since '93 predicting the quick indictment of HRC or WJC. When irresponsible Repukes start those rumors, the whore Repuke media piles on, exciting the Repukie sheeple.

Prediction: no indictment or criminal conviction of MS will result from these sleazy, politically inspired rumors.

[isthisnickcool]

Damn your title! Look who is agreeing with me now.

Off to take a long hot shower.......

[M. Thatcher]

An assistant to Stewart's broker at Merrill Lynch initially backed Stewart's account. But Douglas Faneuil later admitted that he was not honest when first interviewed by investigators from the Securities and Exchange Commission and the FBI.
As part of a guilty plea entered this month, Faneuil agreed to testify against Stewart and others if they are charged in connection with the scandal. Faneuil pleaded guilty to a misdemeanor charge of accepting gifts to withhold information about Stewart's sale of her shares.

That information IN NO WAY justifies your use of "implicated," a word with a strict legal definition.

ABC's title is responsible; yours was not. Very relieved to see it gone.

[NC Conservative]

Prediction: no indictment or criminal conviction of MS will result from these sleazy, politically inspired rumors.

got the crack pipe heated up i see. are you ever happy about anything. such an angry liberal. your anger blinds you as you go and pull the master democrat lever. i feel for your kids. must be tough growing up with such an angry person.

[ladtx]

From the tone of MurryMoms posts I believe she is really Molly Ivins, same hate dripping from the keyboard.

[VRWC_minion]

The feds don't have any evidence that MS profited from an illegal tip

She doesn't have to profit in order to be guilty of insider trading. If she in fact acted on advance information with the intent to mitigate a loss or make a profit she would be guilty of violating the law regardless of whether she was successful

[colorado tanker]

So, Martha, what are the best colors for decorating a prison cell?

[gridlock]

Martha Stewart missed the boat on this one. When this first broke, she should have gone on TV and admitted that she traded based on a tip, that this is the way they do things in the better circles, and that it was "a good thing".

She would have been seen as a victim, and the political types would have left her alone. Without the photogenic celebrity of Martha Stewart attached to the case, Waksal would have been better off, too.

But Martha tried to stonewall, and the wall is about to come tumbling down. Too bad for Martha.

[eureka!]

Wanna bet? Martha made the same mistake as a certain grifting, predating ex-president (and not Nixon, he didn't rape). Stewart got caught, then lied and tried to cover it up. Watch. She's going to be indicted. Nothing political. The Rule of Law thingy....

[MurryMom]

She doesn't have to profit in order to be guilty of insider trading. If she in fact acted on advance information with the intent to mitigate a loss or make a profit she would be guilty of violating the law regardless of whether she was successful

Your post left out an element of the alleged crime for which there is no known evidence. In order to sustain a criminal conviction, the prosecution needs to prove that MS knew she had advance information. The media, acting under Billy Tauzin's influence, has failed to smell out the lack of any proof of that element perhaps accounting for your argument's deficiency.

I suspect MS's broker might have signaled to her in some way not publicly disclosed yet that ImClone stock was about to suffer from bad news. If her broker didn't tell her what the news was, how can Martha be an illegal tippee?