Metropolis Reality Forums - Martha Goes to Court

Sponsored by: The Fans!

Welcome, Guest. Please Login or Register.
Nov 24^th, 2024, 1:19am

Upcoming Premiere Dates:
Survivor 23, Season premiere
Thursday, September 14 (8:00-9:30 PM, ET/PT) on CBS

Metropolis Reality Forums Ť Martha Goes to Court ť

   Metropolis Reality Forums
   Off-Topic Forums
   In the News (Moderators: lakelady, yesteach, MediaScribe, Bumper, Isle_be_back)
   Martha Goes to Court

Previous topic | New Topic | Next topic »

Pages: 1

Add Poll

Notify of replies

Send Topic

Author

Topic: Martha Goes to Court (Read 234 times)

Rhune
ForumsNet Administrator

Gender:

Posts: 292

Martha Goes to Court
« on: Jan 20^th, 2003, 1:50am »

Quote

Modify

Martha Still In Hot Water?

NEW YORK, Jan. 18, 2003

(AP) Federal securities regulators have told Martha Stewart they've decided to file civil insider-trading charges against her in the coming weeks, New York's Daily News reports in its Saturday editions.

The News quotes two sources as saying that if convicted of the charges, she would probably have to pay a fine and resign as president of her multimillion-dollar namesake company, Martha Stewart Living Omnimedia.

The notice to the embattled Stewart followed months of legal wrangling before the Securities and Exchange Commission, where Stewart argued she did not violate insider-trading rules when she sold 4,000 shares of ImClone Systems stock Dec. 27, 2001 - just before it tanked, the newspaper points out.

But in recent days, the SEC's five commissioners rejected her arguments and set in motion the process of filing a civil lawsuit in Manhattan Federal Court against Stewart, the news says. A spokesman for the SEC declined to comment to the News.

Once the charges are filed, the SEC will seek fines from Stewart totaling three times the amount they claim she saved by dumping her stock in the nick of time, The News says.

For a woman who owns several homes and has millions tucked away, she will not be staggered by a fine that's expected to total about $120,000.

But a conviction could force Stewart out as the head of her decorating empire, the News explains.

A more serious matter is the ongoing criminal investigation by Manhattan U.S. Attorney Jim Comey. His securities unit has targeted Stewart for possible criminal insider-trading and obstruction of justice charges, sources have told the News.

Stewart gave her version of events regarding the ImClone stock sale to an FBI agent and an assistant U.S. attorney during an interview in April.

The FBI since has been looking into whether Stewart was involved in insider trading and whether she lied to them during that interview, according to the News.

Stewart now likely will try to negotiate with both the SEC and federal prosecutors to try to resolve the matter without having to be charged with a felony, the News says.

If Comey decides to bring criminal charges against Stewart, he will coordinate that filing with the SEC's civil suit, the sources told the News.

Her longtime friend, ImClone founder Sam Waksal, pleaded guilty to tipping his daughter and father to dump their stock just before the government shot down the company's anti-cancer drug, Erbitux.

And Douglas Faneuil, a low-level assistant to Stewart's stockbroker, pleaded guilty to participating in the alleged scheme and is cooperating with the FBI.

The Daily News reported last week that prosecutors had restarted the criminal probe after a holiday break by re-interviewing Faneuil and other witnesses.

Stewart's spokeswoman, Allyn Magrino, did not return calls from the News seeking comment.

IP Logged

MzWings
ForumsNet Member

Praying for FN members/family health & happiness

Gender:

Posts: 0

Re: Martha Goes to Court
« Reply #1 on: Jan 20^th, 2003, 7:29am »

Quote

Modify

This woman has been dissed for so many years, it's a wonder she can get out of bed on any given morning. Yet she continues to hold her head high. Whether or not she's guilty or found guilty of any of the alledged charges - I think people should take a long hard look at their own lives. Why is it we always attack personalities when they're on the top rung of a ladder?

IP Logged

"Senility Prayer"...God grant me...
The senility to forget the people I never liked
The good fortune to run into the ones that I do
And the eyesight to tell the difference."

Rhune
ForumsNet Administrator

Gender:

Posts: 292

Re: Martha Goes to Court
« Reply #2 on: Jan 20^th, 2003, 10:08am »

Quote

Modify

I guess I'm from the other side of the fence on Martha. I have never made fun of her until now. I'm angry that at a time when the economy was suffering and many people having a hard time making ends meet and feeding their families, that she would do something like this. This hurts the economy, this hurts people other than just Martha. How dare she pretend to be this upstanding person and represent that kind of persona, and then help cut the american throat financially.

IP Logged

MzWings
ForumsNet Member

Praying for FN members/family health & happiness

Gender:

Posts: 0

Re: Martha Goes to Court
« Reply #3 on: Jan 20^th, 2003, 10:30am »

Quote

Modify

<------- AHA! But first....let us find what's the truth and what's not. THEN we can bash shit outta her..... :censored:

ooooops

IP Logged

"Senility Prayer"...God grant me...
The senility to forget the people I never liked
The good fortune to run into the ones that I do
And the eyesight to tell the difference."

Rhune
ForumsNet Administrator

Gender:

Posts: 292

Re: Martha Goes to Court
« Reply #4 on: Jan 20^th, 2003, 10:39am »

Quote

Modify

Well, it hasn't been proven yet in a court of law, but I think a lot of evidence has been brought before the public that makes her look guilty in my eyes.

Remember, OJ was found "not guilty" in a court of law. That certainly doesn't make him innocent of the crime in my eyes based on the evidence I saw. In an interview with one of the jurors afterward, she said that half of the stuff we saw as evidence, including a photo of OJ wearing the gloves, were considered non-submissable in court and so a jury of his peers judged him with only half the evidence that everyone else had. That's just the way it goes. I watched an episode of CSI not too long ago where they had to go to court and they talked about how because the evidence was overwhelmingly in their favor the other side's tactic was to attack how the evidence was collected and to try & render it non-submissable, so they could win.

Maybe I'm becoming too much the cynic since I've had kids, but I believe the courts and the juries get it wrong a lot specifically because of how evidence is (or is not) presented.

IP Logged

Pages: 1

Add Poll

Notify of replies

Send Topic


Previous topic \| New Topic \| Next topic »