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NEW YORK (Reuters) - Martha Stewart (News) could be arrested as early as Wednesday on obstruction of justice charges and is then expected to step down as chairman and chief executive of the media and design company she built, Martha Stewart Living Omnimedia Inc. (NYSE:MSO - News), CNBC said.
Needed a box of mothballs to put down the pool drains leading out to yard so snakes don't come in as babies and grow up to scare the shit out of me when they sun on the waterfall...
So.
Kmart only had freaking Martha Stewart mothballs for over $3 a box, I just could not invest and give my money to this bitch. So I walked out of the store.
I hope she tanks.
__________________
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Originally posted by LeeNoga@Jun 3 2003, 03:53 PM I was so American over the weekend at Kmart.
Needed a box of mothballs to put down the pool drains leading out to yard so snakes don't come in as babies and grow up to scare the shit out of me when they sun on the waterfall...
So.
Kmart only had freaking Martha Stewart mothballs for over $3 a box, I just could not invest and give my money to this bitch. So I walked out of the store.
I hope she tanks.
Lee,
why can't you handle another woman's success?
as I thought, you are NOT familiar with criminal charges she might be incriminated with and...Insider Trading is NOT what she will be charged with
;-))
"Obstruction of Justice" is one of the possibilities, but NOT the insider trading plus..
The government's case is rather weak...
Originally posted by Serge_Oprano@Jun 3 2003, 05:18 PM a priori
in Latin means "Before Experiment"
;-)))
as I thought, you are NOT familiar with criminal charges she might be incriminated with and...Insider Trading is NOT what she will be charged with
;-))
"Obstruction of Justice" is one of the possibilities, but NOT the insider trading plus..
The government's case is rather weak...
Well Shit Serge, I knew the obstruction charges, that's the first line of the fucking article.... Sheez.....
I think there will be additional charges to come to do with insider trading, etc...
Yes, it is a weak case... But she is a big name... and just like others before her, there are many folks that would like to see her go down for various reasons......
Michael Milkin was, imho, a weak case... But they got him into jail (had to threaten to bust his brother to do it but nonetheless, they got their plea).. His only crime (again IMHO) was in taking capitalism to the max... But he pissed a lot of the super rich folks off and didn't have enough friends in the right places....
I can't wait for the new Jail Cozey line that will come out in a few years. Not to mention the sets of fuzzy Iron Bars Warmers; not only are they functional, but they add a warm, relaxing color to that otherwise drab cell motif.
Originally posted by LeeNoga@Jun 3 2003, 08:33 PM
This is not a broad stroke gender remark, she is going to be charged with something, she fucked up and she abused her Holyness, and she needs to be held accountable.
Lee,
in a single word your remark is BULLSHIT,
and I am not about to go into 5 pages of your psychoanalysis and your resentment of the succesful woman..
she sold 4000 shares of stock, that's all...she is not Saddam Hussein
if she was jewish or not I would say you sold some stock worth a few hundred K or so, but ended up loosing tens of millions of dollars or more over this shit..
You got caught, no time to pay the sec some nice fines
A grand jury handed up the indictment against Ms Stewart to the judge on Wednesday. Ms Stewart was charged with, among other things, securities fraud and obstruction of justice. The charges could carry penalties of up to 10 years in jail.
.........
The allegations in the indictment could still veer away from insider trading charges to the lesser offence of obstructing an investigation, according to people familiar with the negotiations.
That would still have serious consequences: federal sentencing guidelines mean that Ms Stewart could face a prison term.
Stewart Faces Obstruction, Fraud Charges
Wed June 4, 2003 12:52 PM ET
NEW YORK (Reuters) - Martha Stewart and her former stock broker were charged with obstruction of justice on Wednesday, prosecutors said, in a case built from Stewart's sale of shares of ImClone Systems Inc..
Stewart, 61, was also charged with securities fraud and making false statements, according to a statement from James Comey, U.S. Attorney for the Southern District of New York.
Peter Bacanovic, a former Merrill Lynch & Co. stock broker, was charged with perjury in addition to the obstruction charge, the prosecutor said.
A news conference on the matter was scheduled for mid-afternoon.
Plaintiff Securities and Exchange Commission ("Commission"), for its Complaint against defendants Martha Stewart ("Stewart") and Peter Bacanovic ("Bacanovic") (collectively the "Defendants"), alleges as follows:
The Commission charges Stewart and Bacanovic with committing securities fraud by engaging in illegal insider trading...................................
.....................................
WHEREFORE, Plaintiff respectfully requests a Final Judgment:
Permanently enjoining the Defendants, their agents, servants, employees, and attorneys, and all persons in active concert or participation with them who receive actual notice of the injunction by personal service or otherwise, and each of them, from future violations of Section 17(a) of the Securities Act, 15 U.S.C. § 77q(a), Section 10( of the Exchange Act, 15 U.S.C. § 78j(, and Rule 10b-5 promulgated thereunder, 17 C.F.R. § 240.10b-5;
Ordering the Defendants to disgorge, jointly and severally, the losses avoided by Stewart's sale of ImClone securities and to pay prejudgment interest thereon;
Ordering the Defendants to pay civil money penalties pursuant to Section 20(d) of the Securities Act, 15 U.S.C. § 77t(d), and Sections 21(d) and 21A of the Exchange Act, 15 U.S.C. § 78u(d)(3) and § 78u-1;
Ordering that Stewart be barred from acting as a director of, and limiting her activities as an officer of, any issuer that has a class of securities registered pursuant to Section 12 of the Exchange Act, 15 U.S.C. § 781, or that is required to file reports pursuant to Section 15(d) of the Exchange Act, 15 U.S.C. § 78o(d); and
Granting such other relief as the Court shall deem just and proper.
Dated: New York, New York June 4, 2003
_______________________________ WAYNE M. CARLIN (WC-2114) Regional Director
Attorney for Plaintiff SECURITIES AND EXCHANGE COMMISSION 233 Broadway New York, New York 10279 Tel: (646) 428-1510
Of Counsel:
Barry W. Rashkover Helene T. Glotzer Andy Calamari Bruce Karpati Jill M. Slansky (Admitted in California but not the S.D.N.Y.)
************************************************** *
I should have bet the $50 apriori.....
************************
Quote:
Quote:
Originally posted by Serge_Oprano+Jun 3 2003, 04:49 PM-->
After more than a year, the government has decided to bring charges against me for matters that are personal and entirely unrelated to the business of Martha Stewart Living Omnimedia. I want you to know that I am innocent -
and that I will fight to clear my name.
I simply returned a call from my stockbroker. Based in large part on prior discussions with my broker about price, I authorized a sale of my remaining shares in a biotech company called ImClone. I later denied any wrongdoing in public statements and in voluntary interviews with prosecutors. The government's attempt to criminalize these actions makes no sense to me.
I am confident I will be exonerated of these baseless charges, but a trial unfortunately won't take place for months. I want to thank you for your extraordinary support during the past year - I appreciate it more than you will ever know.
For more information, please visit the special website I have established for you at www.marthatalks.com. I will do my best to post current information about the case, and you will be able to contact me there at martha@marthatalks.com. I look forward to hearing from you.
Sincerely,
=========================
Statement From Martha's Attorney
The following is a statement from Robert G. Morvillo and John J. Tigue, attorneys for Martha Stewart:
NEW YORK, June 4, 2003 -- Robert G. Morvillo and John J. Tigue, personal attorneys for Martha Stewart, today issued the following statement on her behalf:
"Martha Stewart has done nothing wrong. The government is making her the subject of a criminal test case designed to further expand the already unrecognizable boundaries of the federal securities laws.
The indictment reveals that the predicate for the entire investigation - the accusation that Martha Stewart sold her ImClone shares based on inside information - has proven to be false. It is most ironic that Ms. Stewart faces criminal charges for obstructing an investigation which established her innocence. This turn of events can only be characterized as bizarre and raises questions about the motivation for such peculiar charges.
Though the government has not charged her with insider trading, it alleges that public statements drafted by her distinguished attorneys in June 2002 about the reasons she sold ImClone stock constitute a fraud. These unprecedented charges are baseless. The press releases were issued in response to Congressional leaks that Ms. Stewart sold her ImClone shares because she was tipped that its cancer drug application was going to be denied - another allegation that has proven to be absolutely false. In this country, those who have been falsely accused of a crime have always been free to proclaim their innocence without fear of being punished by the government for their resistance. These press releases did little more than truthfully deny that she had been tipped on Erbitux. To attempt to criminalize such statements and use the federal securities laws to deprive those under investigation of the ability to speak out in their own defense violates basic principles of American democracy and is most disturbing.
As to the remainder of the allegations, we are also unaware of any case in which a witness has voluntarily submitted to an unsworn interview by a federal prosecutor -- and then been prosecuted for allegedly false statements that have nothing to do with the stated purpose of the interview. In this case, the focus of the interview was Erbitux and Martha truthfully denied being tipped as to its status.
Why then has the government, after nearly a year and a half, chosen to file these charges? Is it for publicity purposes because Martha Stewart is a celebrity? Is it because she is a woman who has successfully competed in a man's business world by virtue of her talent, hard work and demanding standards? Is it because the government would like to be able to define securities fraud as whatever it wants it to be? Or is it because the Department of Justice is attempting to divert the public's attention from its failure to charge the politically connected managers of Enron and WorldCom who may have fleeced the public out of billions of dollars?
We urge the media to ask these questions - and to consult with legal experts on the validity and broader implications of these extraordinary charges. We believe such an inquiry will verify that this indictment is unique and goes well beyond any other criminal securities law case. We ask the public to withhold judgment until the government's unfounded charges are publicly aired and refuted. When this happens, we are convinced that justice will follow and Martha Stewart will be fully exonerated."
Originally posted by Serge_Oprano@Jun 5 2003, 02:44 AM interesting justice...
Eneron and Worldcom executives who took the whole COUNTRY to the cleaners are free and Martha is in legal troubles...
what's next?
there has already been 4 or more Enron convictions and a couple people pleaded guilty if i recall.
06-03-2003
- "Squish-Squish-Squish, Lee's lesbian workout program"
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