Crime Doesn't Pay

A federal appeals court Friday upheld the conviction of celebrity homemaker Martha Stewart for lying to investigators about selling stock that plunged in price soon after her trade. The 2nd U.S. Circuit Court of Appeals in Manhattan issued a written ruling upholding the 2004 conviction of Stewart for lying about her sale of nearly 4,000 shares of ImClone Systems Inc. stock in 2001.

The appeals court brushed aside a defense attempt to show it was not illegal for Stewart to sell her shares because she heard her friend was doing so. "Ultimately, the legality of trading upon the knowledge that her friend, Waksal, was selling his ImClone holdings is irrelevant to the issue of whether Stewart later lied to investigators about having received that information," the court wrote.

She thought she was above the law, the fed's had the goods on her and they don't like being lied to. She got what she deserved.

Posted on The Human Stain