ANSWERS: 1
  • Martha Stewart, 62, was convicted on Friday of conspiring with her former Merrill Lynch stock broker to hide the reason behind her suspicious sale of shares in the biotech company ImClone Systems Inc. on Dec. 27, 2001. She was found guilty of one count of conspiracy, two counts of making false statements and one count of obstruction of agency proceedings. Experts said Stewart could be sentenced to between 10 months and two years for her crimes. Although Stewart was convicted of lying to investigators about the circumstances of the stock sale, she was not charged with insider trading. Because of this, the judge barred the defense team from arguing that no illegal trading took place. Martha was rumored to have pulled her shares from ImClone do the the drugs repeated and failed attempts to get FDA approval. After Martha pulled her shares, the drug was later FDA approved, making this one big 'wish I could go back and change that' moment for the home decor icon. ImClone has also reported loss of profits due to the recent conviction and upcoming trial. Martha is scheduled for her next court appearance, June 17, if the lawers don't start the appeals early.

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