Post by Administrator on Mar 6, 2004 5:53:17 GMT -5
Martha Stewart was found guilty Friday of lying to federal investigators about a timely and profitable stock sale, a verdict that could mean prison time for the domestic arts queen and deals a setback to the media empire she built to promote "good things."
Each of the four charges Stewart was convicted of -- conspiracy, obstruction of justice and two counts of making false statements -- carries a statutory term of up to five years in prison and fines of up to $250,000. Under federal sentencing guidelines, however, it is likely she will face a lesser term.
She will remain free at least until a June 17 sentencing hearing.
Stewart's former stockbroker, Peter Bacanovic, 41, was convicted along with her for perjury, conspiracy, making a false statement and obstruction of justice, but was acquitted of making a false document. He faces similar sentencing.
Stewart, the highest-profile figure in a procession of corporate scandals that emerged after the tech stock boom-and-bust of the 1990s, reacted with a wide-eyed grimace when the jury of eight women and four men delivered their decision after three days of deliberations. Her daughter, Alexis Stewart, was in tears.
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Each of the four charges Stewart was convicted of -- conspiracy, obstruction of justice and two counts of making false statements -- carries a statutory term of up to five years in prison and fines of up to $250,000. Under federal sentencing guidelines, however, it is likely she will face a lesser term.
She will remain free at least until a June 17 sentencing hearing.
Stewart's former stockbroker, Peter Bacanovic, 41, was convicted along with her for perjury, conspiracy, making a false statement and obstruction of justice, but was acquitted of making a false document. He faces similar sentencing.
Stewart, the highest-profile figure in a procession of corporate scandals that emerged after the tech stock boom-and-bust of the 1990s, reacted with a wide-eyed grimace when the jury of eight women and four men delivered their decision after three days of deliberations. Her daughter, Alexis Stewart, was in tears.
Link
They will appeal, and even at sentencing you watch and see, she will get maybe a year actual time (She ends up spending) if that, and it will be a , what I call, in a Rich prison