Insider Trading-2004 Trial
The Martha Stewart 2004 Trial
Introduction
A white collar crime is a category that includes embezzlement, insider trading and bank fraud just to name a few. These crimes are committed for monetary gain and are highly illegal.
Martha Stewart known for her creative decorating, her craftiness and her multi-million dollar business was convicted in 2004 for what many call securities fraud or insider trading. In 2001 she sold all of her stocks of ImClone Systems, Inc after being tipped off by her stockbroker. That sale occssionally saved her a 51,000 dollar loss.
During this report you will learn about the crime committed along with what evidence the jury found most convincing and the punishment that was handed down to the Stewart in the wake of what should have been deserved.
The crime committed
In 2001 Martha Stewart got a tip from her stockbroker that the CEO of ImClone was going to be selling his stock shares due to an FDA announcement that was to be announced the day after. Now there had been a plot put together between the broker and herself to sell the stock when and if ever it fell under 60 dollars a share.
The crime she committed securities fraud, obstruction of justice, conspiracy to commit perjury and false statements. The jury found Stewart guilty of one count of obstruction of justice, two counts of false statements, and one count to commit perjury. Now the verdict came from the jury just one week after the U.S District Judge threw out her charge of securities fraud. If she would have been convicted that punishment is finable to one million dollars and up to 10 years of prison time.
For those who do not know, securities fraud which was Stewart’s original charge is an illegal activity that deceives investors and manipulates documents. Luckily Stewart was not convicted and charges were dropped in relation to that originally.
The evidence against Martha Stewart
When putting someone on trial its key to have
Introduction
A white collar crime is a category that includes embezzlement, insider trading and bank fraud just to name a few. These crimes are committed for monetary gain and are highly illegal.
Martha Stewart known for her creative decorating, her craftiness and her multi-million dollar business was convicted in 2004 for what many call securities fraud or insider trading. In 2001 she sold all of her stocks of ImClone Systems, Inc after being tipped off by her stockbroker. That sale occssionally saved her a 51,000 dollar loss.
During this report you will learn about the crime committed along with what evidence the jury found most convincing and the punishment that was handed down to the Stewart in the wake of what should have been deserved.
The crime committed
In 2001 Martha Stewart got a tip from her stockbroker that the CEO of ImClone was going to be selling his stock shares due to an FDA announcement that was to be announced the day after. Now there had been a plot put together between the broker and herself to sell the stock when and if ever it fell under 60 dollars a share.
The crime she committed securities fraud, obstruction of justice, conspiracy to commit perjury and false statements. The jury found Stewart guilty of one count of obstruction of justice, two counts of false statements, and one count to commit perjury. Now the verdict came from the jury just one week after the U.S District Judge threw out her charge of securities fraud. If she would have been convicted that punishment is finable to one million dollars and up to 10 years of prison time.
For those who do not know, securities fraud which was Stewart’s original charge is an illegal activity that deceives investors and manipulates documents. Luckily Stewart was not convicted and charges were dropped in relation to that originally.
The evidence against Martha Stewart
When putting someone on trial its key to have