Posted on 03/08/2004 3:23:09 AM PST by kattracks
Edited on 05/26/2004 5:19:58 PM PDT by Jim Robinson. [history]
March 8, 2004 -- Martha Stewart's ex-husband, Andy Stewart, feared the princess of perfection's long-held habit of telling whoppers would one day trigger her downfall, a former business partner told The Post yesterday. Norma Collier, who was Martha Stewart's first business partner when they started a catering business in Connecticut in 1974, said yesterday that Stewart's self-made disaster was "very sad" - and almost inevitable.
(Excerpt) Read more at nypost.com ...
And that potential loss would not have to be a complete disaster. An immediate call to the SEC would put you in line for a bounty which would compensate you (in whole or part) out of the proceeds of any dollar penalties imposed. Your complaint would almost certainly initiate a preliminary investigation and, if the subject of that investigation were prosectued and convicted, you might even be able to recover more in litigation against him. It was he who put you in the position of having to either join him in criminal conspiracy or lose your ability to freely trade your shares. In doing all this, you would not only be protecting your own interests as an investor but striking a blow for market viability and investor confidence in general.
I agree. Let's give her all the time she needs to do that.
While murder and ANY white collar crime, is not equivalent,they are still crimes.
Because of what Martha was involved in( insider trading, falsifying/tampering with evidence,lying, etc.) some people have lost a great deal of money. An investor, with enough A stock,that he now sits on her board and has a hand in running her company now,has lost 1/3 of his investment... EIGHTEEN MILLION DOLLARS, as of last Friday. The " little people " who have her stock have lost a lot of their money too, as have those who sold ImClone, AFTER her stock dump and Waksal's dump. It is only within the last few months, when the FDA approved the ImClone drug, that ImClone's stock has risen.
Facts matter..........learn some.
No it's the government's fault for prosecuting such a senseless 'crime'. Stewart didn't do anything a normal person would have done in that case. Yes, admittedly she probably covered it up but she doesn't deserve jail time for it.
She isn't out of the woods on insider trading yet. There is a civil suit by the SEC on that very charge that remains active. See post #102.
It most certainly is a suspended sentence. It is the suspension of a sentence (in whole or part) conditional to compliant behavior under a probation officer's supervision. IOW, the prison sentence is held in abeyance, just like any other type of sentence suspension.
Sarah, I know you're smarter than this: what MARTHA did has ABSOLUTELY NOTHING to do with Imclone.
Do you even know the facts of this case?
You are dead wrong. Not under federal guidelines. I've already told you once that the ten months IS factoring in any positive things on Martha's side.
Whichever it is, the judge will NOT give a person who has been convicted on four counts -- FELONIES -- probation OR a suspended sentence.
As for this remarks:
Assuming the worst was true, her acting on her brokers tip isn't insider trading.
you might want to call the SEC and inform them of your much more enlightened knowledge than they have; they have filed a suit against her and will be interested in knowing they are wrong.
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Stewart was a stock broker for 20 years. She also held a seat on the NYSE at the time she sold her ImClone.
If there was nothing illegal about that trade, why did she try to alter Bacanovic's email to her? Why did she repeatedly lie to investigators? Why did she hire a defense team before she was even accused of anything or even identified as more than just a witness?
Before you say that she believed she was going to be the object of an unwarranted SEC witch hunt, go to court tv and read the specifications for each count she was charged and convicted on. The jury did. And they took very little time to convict her on all counts, including conspiracy.
BTW, do you there is no specific criminal charge called "insider trading"? Those who illegally trade inside are formally charged with things like securities fraud, conspiracy and the like.
But, coming from YOU, especially, what part of no force and fraud libertarianism, makes it okay to commit FRAUD now? :-)
Absolutely incorrect.
If she knew the broker had insider information it was insider trading (she did).
The difference between insider trading and trading on a rumor is that you know the information comes from someone connected. Such as this case. It is difficult to prove.
IMHO She committed insider trading, but getting a conviction would be tough.
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