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25.4.07 0002
The 7 - Current Events & Politics - Martha Stewart Guilty on All Counts Register and log in to post!
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Grimis
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#1 Posted on 5.3.04 1406.05
Reposted on: 5.3.11 1406.47
Still smells fishy....

* * * * * *
Jury finds Martha Stewart guilty on all counts
The Associated Press
Originally published March 5, 2004

NEW YORK -- A jury found homemaking icon Martha Stewart guilty today of obstructing justice and lying to the government about a superbly timed stock sale.

Shares of Martha Stewart Living Omnimedia jumped in early afternoon trading as word spread of the verdict, with investors apparently betting that she would be acquitted. The stock jumped $1.63, or 12 percent, to $15.66 within a half hour of the reports.

Her company, which announced its earnings Thursday, swung to a profit in the fourth quarter, but took a loss for the year. Many analysts believe the future of the company hinges on the trial, since her public image is tied so closely to the company's marketing.

The verdict came on the third day of deliberations in the case. Extra security was seen outside the Manhattan federal courthouse where the trial was being held.

Earlier Friday, the judge in the case ruled that jurors have sufficient evidence to decide whether Stewart's former stockbroker, Peter Bacanovic, committed perjury.

The testimony of Stewart's assistant, Ann Armstrong, and a telephone message log she kept are enough to meet the high standards of evidence to convict a defendant of perjury, U.S. District Judge Miriam Goldman Cedarbaum said.

Bacanovic is accused of lying under oath about a message he left for Stewart on Dec. 27, 2001, the day she sold ImClone Systems stock.

Bacanovic told the Securities and Exchange Commission in 2002 that the message simply relayed ImClone's stock price. But Stewart's assistant recorded the message as: "Peter Bacanovic thinks ImClone is going to start trading downward."

To convict a defendant of perjury, jurors must rely on the testimony of two witness or on one witness whose story is supported by a document.

A focus on Bacanovic in the jury's notes shows only that they are considering the charges against him -- not which way the jury may be leaning.

And it by no means indicates they are focusing more on him than on the counts against Stewart, who is charged with lying to investigators about her ImClone sale on Dec. 27, 2001.

Stewart and Bacanovic say they had agreed earlier to sell the stock when its price fell below $60 per share.

The jury still must decide on other legal questions, including whether Bacanovic intentionally gave false testimony about the message.

Bacanovic lawyer Richard Strassberg strongly objected to the ruling, saying the judge was essentially allowing jurors to reach a perjury conviction based on one witness' testimony.
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redsoxnation
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#2 Posted on 5.3.04 1410.28
Reposted on: 5.3.11 1410.28
I thought when the judge threw out the big count a few days ago she was going to get off completely. Gee, Martha getting sent to the Big House. HaHaHaHaHa.
ThreepMe
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#3 Posted on 5.3.04 1449.29
Reposted on: 5.3.11 1450.07
    Originally posted by redsoxnation
    I thought when the judge threw out the big count a few days ago she was going to get off completely. Gee, Martha getting sent to the Big House. HaHaHaHaHa.



I would like to add to the gratuitous laughter...

MUHAHAHAHAHAHAHAHA!!!

Oh, ok, I'm done.
The King of Keith
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#4 Posted on 5.3.04 1452.12
Reposted on: 5.3.11 1455.20
Hmmm...first time offender most likely, good record... Sadly, I can't see her doing any major time. I wouldn't be surprised if the whole sentence gets suspended.
JoshMann
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#5 Posted on 5.3.04 1458.55
Reposted on: 5.3.11 1459.01
    Originally posted by VanillaSky
    Hmmm...first time offender most likely, good record... Sadly, I can't see her doing any major time. I wouldn't be surprised if the whole sentence gets suspended.


Which would be a shame, cause it would be fun to see the episode of Living where she makes a shank out of a spatula and an embroidery.



(edited by Blanket Jackson on 5.3.04 1600)
PalpatineW
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#6 Posted on 5.3.04 1514.31
Reposted on: 5.3.11 1514.33
This is just like the Clinton thing, except they let Clinton off the hook. Ridiculous. We'll let the freakin' President get away with crap, but we better bring down Martha!
James F'n X
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#7 Posted on 5.3.04 1605.18
Reposted on: 5.3.11 1605.22
Except that Martha was convicted and the impeachment on Clinton failed.

In fact, there are very few similarities to those situations at all.
JayJayDean
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#8 Posted on 5.3.04 1605.43
Reposted on: 5.3.11 1605.45
Maybe Bill & Hillary simply did a better job of getting away with it than Martha. (Her conviction not withstanding as proof of the obvious.)
DJ FrostyFreeze
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#9 Posted on 5.3.04 1622.03
Reposted on: 5.3.11 1622.14
    Originally posted by baltimoresun.com
    Extra security was seen outside the Manhattan federal courthouse where the trial was being held.
Were they afraid she was gonna try to shoot her way out?
AWArulz
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#10 Posted on 5.3.04 1636.42
Reposted on: 5.3.11 1637.18
    Originally posted by DJ FrostyFreeze
      Originally posted by baltimoresun.com
      Extra security was seen outside the Manhattan federal courthouse where the trial was being held.
    Were they afraid she was gonna try to shoot her way out?


Throngs with Kniting needles were breaking her out of the slam
elcyberGoth
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#11 Posted on 5.3.04 1724.39
Reposted on: 5.3.11 1727.14
(deleted by CRZ on 5.3.04 1847)
redsoxnation
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#12 Posted on 6.3.04 1445.21
Reposted on: 6.3.11 1446.43
As always, on the day their IPO's hit on the same day, what odds could someone have gotten that the feds would have Martha Stewart in jail before they could get a conviction on Vincent Kennedy McMahon.
Big Bad
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#13 Posted on 6.3.04 1636.45
Reposted on: 6.3.11 1637.31
Too bad that Martha wasn't a buddy of the President like the Enron boys.
CRZ
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#14 Posted on 6.3.04 1701.32
Reposted on: 6.3.11 1701.43
    Originally posted by Big Bad
    Too bad that Martha wasn't a buddy of the President like the Enron boys.
You could also have said, "Too bad that Martha didn't know how to take the Fifth and keep her mouth shut."
Grimis
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#15 Posted on 8.3.04 1404.53
Reposted on: 8.3.11 1405.05
At leat Harry Browne had an interesting perspective on the whole thing...
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