MzWings
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Martha Defense Tries to Take Down Faneuil
« on: Feb 5th, 2004, 5:24pm » |
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Thursday, February 05, 2004
NEW YORK — Defense lawyers on Thursday sought to undermine the credibility of Douglas Faneuil (search), the former assistant to Martha Stewart's (search) Merrill Lynch stockbroker, a day after his damaging testimony in the lifestyle guru's trial.
The star witness against Stewart testified Thursday he believed he would be fired unless he lied to cover up the real reason why the trendsetter dumped stock in a company after he gave her an insider tip.
Faneuil said he lied to investigators for months about the stock trade out of fear and intimidation that left him "physically afraid" of his boss, co-defendant Peter Bacanovic (search).
Portrayed by the defense as a drug user and a liar, Faneuil, 28, eventually came forward to tell authorities that Bacanovic ordered him to pass insider information about ImClone Systems Inc. (IMCL) to Stewart and later pressured him to cover up the reasons behind her trade.
http://www.foxnews.com/story/0,2933,110511,00.html
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