Former Imclone CEO just sentenced

Ordered to pay 1.26 million in restitution.
7 million dollar fine.
7 years, 3 months in jail. (maximum sentence)

for insider trading.

due to how these cases are connected, Martha is probably going down.

nope....do you know that he pleaded GUILTY withuoput sentencing plea bargan????

seems like his lawyer went to the same law school as Eric
;-)))

Ouch that's gotta hurt.

She's going to do time regardless of that case, the government needs to take someone down who the public recognizes and she's going to be the one. However it will be for a very short time and in a minimum security place and she'll end up out on good behavior.

i agree. she is going to be made an example out of.

i think there is a lot of political and international pressure to make an example out of her to continue to return confidence to the financial markets.

If someone regains confidence in the markets just because they sent Martha Stewart to jail they have no business being in the market in the first place IMHO.

Damn, TE!

I find I must agree with you!

TE, i know this will be a tough ordeal for you and that both you and Torone are going to miss her show, her recipes, gardening and home design tips and i want you both to know that i will be here for both of you... anytime you want to talk, just hit me up.

*big hug*

for people to have faith in the markets, they have to have faith in the system, in the laws, that the laws are upheld, applied evenly and that people are not breaking the laws and lying, cheating and stealing.

the value of her own company was cut in half due to these charges which hurt thousands of investors as well. i dont think they would target her and risk the political blowback of causing that damage if she could not be convicted, if it was not a slam dunk case.

I think she will end up with time...but not necessarilly doing time...

However, I think it is wrong.. She should have to pay a fine, have her hand slapped whatever.. But she made a measly 45,000 off of the deal.

The Enron and Worldcom debacles were much worse and somewhere in there folks either walked off or faked the books to the tune of billions of dollars and many more people hurt than have been hurt or will be hurt by Martha's screwup... They deserve jail time...

JR,
As a matter of fact, I dislike the woman only slightly less than I do Oprah Winfrey. I do see a double standard in action, though. When a friend from Tyson Foods 'helped' Hitlary Clinton turn a huge profit trading in cattle futures, insider trading was not even mentioned (BTW, Tyson is large enough to actually be able to influence prices to some extent, as well as being insiders)...

Stewart's problem wasn't what she MIGHT have done (what ever happened to 'innocent until proven guilty'?); it was in the wreckless way the media jumped on it.



Last edited by Torone at Jun 11 2003, 04:23 AM