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Barry Rashkover, associate regional director of the SEC in New York, said Thursday when asked about Morvillo's complaint, "It wouldn't be appropriate not to charge her because she's a celebrity Following the indictment, the Securities and Exchange Commission filed a civil complaint seeking to ban Stewart, 61, from ever leading a public company and to limit her activity as officer of a public company S Bacanovic also pleaded innocent to all counts against him, including perjury and obstruction of justice " "I simply returned a call from my stockbroker," Stewart wrote Any sentences would likely be much lighter under federal guidelines com Martha Talks: http://marthatalks He could get six to seven years in prison, plus fines com Revenue in the first quarter dropped 15 percent from the same period a year earlier Stewart even deleted a computer log of a phone message in which Bacanovic told her he thought ImClone was "going to start trading downward," according to the indictment " "The average investor has to make investment decisions based on what is public If convicted, she could be sent to prison Regulators also want the court to force Stewart and Bacanovic to pay more than $45,000 â€â€? the losses they say Stewart avoided by unloading ImClone stock before Wall Street learned legally that the FDA had declined to review ImClone's application for approval of its cancer drug Erbitux In an open letter published as a full-page ad in USA Today on Thursday, Stewart said, "I want you to know that I am innocent â€â€? and that I will fight to clear my name Attorney Robert Morvillo also asked: "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?" At a hearing before U They don't have access to the kind of information she had," Rashkover told NBC's "Today" show I later denied any wrongdoing in public statements and voluntary interviews with prosecutors The indictment stems from Stewart's sale of nearly 4,000 shares of ImClone Systems on Dec The indictment does not claim Stewart had specific knowledge of the FDA decision â€â€? only that the Waksals were about to dump shares She was not charged with insider trading, a more difficult charge to prove than fraud : http://www "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 S Stewart's resignation came hours after federal prosecutors in New York charged her with obstruction of justice, conspiracy, securities fraud and lying to investigators 27, 2001 â€â€? the day before a disappointing Food and Drug Administration report that sent the biotech company's stock price tumbling Her attorney said Stewart was being unfairly targeted â€â€? perhaps because of her extraordinarily high profile " The charges against her carry a maximum penalty of 30 years in prison and a $2 million fine for Stewart, and 25 years and $1 Still, according to the government, Bacanovic's tip on the Waksals was funneled through Douglas Faneuil, an assistant who pleaded guilty last year to a misdemeanor charge of taking gifts to keep quiet about Stewart's stock sale Attorney James Comey told reporters the case was about Stewart's alleged lies â€â€? to the SEC, the FBI and to her own investors District Judge Miriam Goldman Cedarbaum, Stewart was released without bail until her next court appearance June 19 At a news conference, Manhattan U At Stewart's company, the scandal had already caused earnings to slump : http://www The government's attempt to criminalize these actions makes no sense to me Stewart ignored reporters and camera crews as she entered and left the federal courthouse in lower Manhattan imclone They see their fortunes rise and fall based on what is public Stewart Claims Innocence in Newspaper Ad Jun 5, 8:03 AM EST Martha Stewart took her defense straight to the public Thursday, writing in a newspaper ad, "I am innocent" and "will fight to clear my name" in a federal insider trading case that pressured her to step down as head of the retail and media empire that made her a fortune The securities-fraud charge claims Stewart misled her own shareholders last summer, playing down the scandal in a clear attempt to keep her company's stock price from falling "Martha Stewart is being prosecuted not because of who she is but because of what she did," he said marthastewart Waksal, a longtime friend of Stewart, will be sentenced next week after pleading guilty to six counts in the insider-trading scandal Also indicted was Peter Bacanovic, Stewart's former broker at Merrill Lynch, who prosecutors say illegally sent word to Stewart that the family of ImClone founder Samuel Waksal was planning to unload shares The queen of home decor resigned late Wednesday as chairwoman and CEO of Martha Stewart Living Omnimedia, the company she used to stamp her style on everything from magazines and TV screens to bed linens and bath towels â€â€?â€â€?â€â€? On the Net: Martha Stewart Living Omnimedia Inc She pleaded innocent on all counts before a federal judge, saying "not guilty" in a calm, deliberate tone and with little expression on her face 25 million for Bacanovic She plans to stay on as creative chief and a member of the board com/ ImClone Systems Inc Ryder's attorney Mark Geragos declined comment late Friday, saying he had not been informed the documents were no longer under seal How those stores handled the incidents, including whether guards confronted Ryder or only observed and videotaped her, was not stated in the transcripts (AP) â€â€? Newly released court transcripts in the shoplifting trial of Winona Ryder revealed the actress was suspected of stealing from two other high-end department stores before her arrest at Saks Fifth Avenue in Beverly Hills The transcripts detail prosecution efforts during an Oct 24 closed hearing to introduce evidence of Ryder's alleged "prior bad acts" into her shoplifting trial Ryder was never charged in the alleged incidents at Barneys in New York and Neiman Marcus in Beverly Hills, according to the documents released Friday " The instances occurred at Barneys on May 14, 2000, and Oct Superior Court Judge Elden Fox ruled against letting jurors hear of the prior acts, saying the evidence "would impair the defendant's ability to have a fair trial " He claimed the prosecution was just trying to "throw in more garbage" because it had a weak case In defense arguments, Geragos said Ryder has "never been detained " The judge released the transcripts of the closed hearings in response to a state appeals court decision in a case brought by The Associated Press, the Los Angeles Times and Los Angeles Daily Journal The Oscar-nominated actress was convicted Wednesday of felony grand theft and vandalism for shoplifting more than $5,500 worth of merchandise from Saks last December The "Little Women" and "Girl, Interrupted" star was found innocent of a third charge of burglary 10, 2001, and Nov Such a report normally contains information on a person's marital and financial status, medical history, criminal record if they have one, and the department's sentencing recommendation "We have videotapes of two prior instances wherein she is seen doing the identical conduct that they will see on the video in our case Backup copies of the copies exist, however, said Ken Kondo of the department She's never been arrested In an unrelated matter, the Los Angeles County Probation Department confirmed Friday that a copy of Ryder's "pre-conviction report" was missing from the department's Santa Monica office Her sentencing has been scheduled for Dec Ryder faces a possible three-year prison term, though prosecutors have said they'll seek probation, community service and restitution 29, 2001, at the Neiman Marcus store in Beverly Hills, Rundle said 6 In the transcripts, Deputy District Attorney Ann Rundle argued jurors should hear about the three incidents before judging Ryder's behavior at the Beverly Hills Saks Fifth Avenue selecting items, concealing those items underneath heavy garment bags or underneath her own clothing, in and out of dressing rooms and ultimately walking out of the store without paying for the item," Rundle said Ryder Suspected at Other Stores BEVERLY HILLS, Calif Rundle told the judge that in one case, Ryder "was seen by security selecting a hat, wandering around the store with a hat and then walking out the door with the hat on her head without paying for it, which is an almost identical act to what she is being charged with in this case â€â€?â€â€?â€â€? Associated Press Writer Eugene Tong contributed to this report |
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