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Martha Stewart Sentenced to Five Months

Martha Stewart was sentenced this morning to five months in prison on four counts of conspiracy and lying to investigators about a sale of ImClone stock in 2001 that preceded by one day a drop in the price per share. “This was an overzealous prosecution by a Justice department wielding an obscure federal law against a powerful woman,” said Elaine Lafferty, editor-in-chief of Ms. magazine, who has led the charge that Stewart was subjected to what is effectively a “bitch hunt.” “It is ridiculous that Martha Stewart should be going to prison, and a waste of taxpayer money.” Stewart was also fined $30,000 and sentenced to two years of supervised probation, according to the New York Times. In the days leading up to her sentencing, hundreds of her supporters have sent letters to Judge Miriam Goldman Cedarbaum asking her to be lenient. Stewart’s lawyers have vowed to appeal her conviction. Peter E. Bacanovic, Stewart’s broker, was also convicted of four charges and will be sentenced later today. JOIN the Ms. community and receive the premier feminist publication for one year

Sources:

New York Times 7/16/04; Associated Press 7/16/04; Ms. magazine