The criminal Charges:
from Reuters:
http://reuters.com/financeNewsArticle.jhtm...storyID=2877910 (http://reuters.com/financeNewsArticle.jhtml?type=businessNews&storyID=2877910)
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.
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The civil suit ....
From Newsday:
http://www.newsday.com/business/printediti...-business-print (http://www.newsday.com/business/printedition/ny-biz-sec-martha,0,6378126.story?coll=ny-business-print)
WAYNE M. CARLIN (WC-2114) Regional Director
Attorney for Plaintiff SECURITIES AND EXCHANGE COMMISSION Northeast Regional Office 233 Broadway New York, New York 10279 (646) 428-1510
UNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF NEW YORK
--------------------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION,
Plaintiff,
-against-
MARTHA STEWART and PETER BACANOVIC,
Defendants.
-------------------------------------------------------------------------------- : : : : : : : : : : : 03 CV 4070 (NRB)
COMPLAINT
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(B) of the Exchange Act, 15 U.S.C. § 78j(B), 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.)
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I should have bet the $50 apriori.....
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Originally posted by Serge_Oprano+Jun 3 2003, 04:49 PM--></span><table border='0' align='center' width='95%' cellpadding='3' cellspacing='1'><tr><td>QUOTE (Serge_Oprano @ Jun 3 2003, 04:49 PM)</td></tr><tr><td id='QUOTE'><!--QuoteBegin--sarettah@Jun 3 2003, 03:02 PM
yes she will....
wanna bet $100?
I am willing to bet $5o a priori that you don't even know what she is charged with
;-)))
lolol.... Bet $100... With you ???? I may have gotten off the boat, but it wasn't yesterday... (in other words... "NO" as in "No Fucking way") :)
as to the criminal charges... They are unspecified... I assume it will be some version of violation of insider trading....
Just to clarify.. I have nothing against Martha Stewart. She is a bitch, but she is a smart bitch and definitely knew how to market her product....
I think she will end up doing jail time as an "example". None of the real big busts of corporate fraud (ENRON, WorldCom) will result in jail time, but Martha will, mainly because she doesn't know enough of the right folks....
Just my opinion... :)
btw.. what is $5o a priori ?
[/b][/quote]
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...