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Friday, January 06, 2006

Law - Appeals Court Upholds Martha Stewart Conviction

The AP is reporting that:

NEW YORK (AP) -- A federal appeals court Friday upheld the conviction of celebrity homemaker Martha Stewart for lying to investigators about selling stock that plunged in price soon after her trade. Stewart completed her sentence in the case last summer but pursued the appeal anyway.

The 2nd U.S. Circuit Court of Appeals in Manhattan issued a written ruling upholding the 2004 convictions of Stewart and former stockbroker Peter Bacanovic for lying about why Stewart sold nearly 4,000 shares of ImClone Systems Inc. stock in 2001.

Fonrtunately, Stewart elected to go ahead in 2004 and serve her 5-month prison term, followed by a 5-month house arrest, completing them in the early summer of 2005. So she has it behind her. Otherwise, this weekend she would be getting ready to serve her time.

Posted by Marcia Oddi on January 6, 2006 06:30 PM
Posted to General Law Related