Martha Stewart Found Guilty
Martha Stewart was convicted of two counts of false statements, one count of conspiracy, and one count of obstruction of justice by a federal jury Friday. Each count carries a maximum prison term of five years and a $250,000 fine. Shares of her company, Martha Stewart Living Omnimedia (MSO ) rose before being halted ahead of the news, and are now trading lower. Last week, Martha was found not guilty of securities fraud related to the timing of the sale of her ImClone Systems (IMCL ) stock in December, 2001. Her broker and co-defendant, Peter Bacanovic, was also found guilty on four counts, plus a perjury charge, based on phone logs of his calls to Stewart.
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