Martha Stewart's Company Says Feds Seek To Indict Her

[chadtm80]

NEW YORK -- Martha Stewart's media company said Tuesday that federal prosecutors are seeking a criminal indictment against her "in the near future."

Stewart has been under investigation on suspicion of insider trading involving shares she sold of biotech company ImClone Systems Incorporated in December 2001.

She has denied any wrongdoing.


The statement from Martha Stewart Living Omnimedia Inc. said Stewart's attorneys told the company that Stewart is the target of a criminal investigation by the Manhattan U.S. Attorney's office. It said a civil complaint by the Securities and Exchange Commission also is expected.

The statement didn't elaborate on the possible charges. Stewart's attorney and the U.S. attorney's office had no immediate comment.

Federal authorities are investigating Stewart to learn if she sold ImClone shares because she had insider knowledge that the Food and Drug Administration was going to reject the company's application for its new colon cancer drug.

[streetsoldier]

Good...maybe she can improve the decor in her new "home"...prove categorically that pastel orange DOES go with stripes!

[mf_dolphin]

ROFL @ Bill