PDA

View Full Version : Martha Stewart Guilty on All Counts


Robert
March 5th, 2004, 15:36
NEW YORK (March 5) - Martha Stewart was convicted Friday of obstructing justice and lying to the government about a superbly timed stock sale - a devastating verdict that probably means prison for the woman who epitomizes meticulous homemaking and gracious living.

http://aolsvc.news.aol.com/news/article.adp?id=20040213104909990001



She deserves it! Good! I'm glad to see the U.S Justice system works!
Wojtek
March 5th, 2004, 15:56
I read somewhere she has a polish background, and changed her name to something more american-sounding before starting in the home-deco business. Martha Kowalska isnt as sexy as Martha Stewart.

I didnt follow this closely but whats wrong with dumping your shares?

If I had 200k in Microsoft and knew they'd go out of business tomorow, id sell my shares right away. So besides lying to the court as her main charges, why was it wrong for her to dump those shares?
Robert
March 5th, 2004, 16:22
Originally posted by Wojtek
I read somewhere she has a polish background, and changed her name to something more american-sounding before starting in the home-deco business. Martha Kowalska isnt as sexy as Martha Stewart.

I didnt follow this closely but whats wrong with dumping your shares?

If I had 200k in Microsoft and knew they'd go out of business tomorow, id sell my shares right away. So besides lying to the court as her main charges, why was it wrong for her to dump those shares?

That's called Insider trading and it's illegal. However, she isn't charged on that.

She sold her shares because of some insider trading. When asked about it by the SEC, she lied and said no she didn't know. Evidence shows she did know and she lied.
jmiller
March 5th, 2004, 16:56
This also means her little corporation will also probably go under, after all who's gonna trust her now?

I would feel sorry for her if it weren't for the fact that she lied her way through the whole trial -- thus she deserves what she got, as goes for anyone else who tries the same.

EDIT:
Here's a similar link to the story for those of you who don't use AOL services.
http://www.newsday.com/news/local/wire/ny-bc-ny--marthastewart-cou0305mar05,0,7531158.story?coll=ny-ap-regional-wire