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Thursday, June 27, 2002


I'm not actually sure I understand the concept, but the US apparently has one. Her name is Martha Stewart, and she is the head of Martha Stewart Living Omnimedia Inc. A nice name if ever there was one. Martha is in the news recently, not for her impecable lifestyle, but because she is currently under criminal investigation by Federal prosecutors for insider trading in what has become known as the ImClone scandal. Martha is pals with the CEO at the biotech company, and is accused of selling rather a lot of shares the day before the America Food and Drug Administration announced they needed more tests on a key ImClone product.

Shares of Martha Stewart Living Omnimedia Inc. fell more than 20 percent to all-time lows on Wednesday after a report cast new doubts on Chief Executive Martha Stewart's account of her entanglement in the ImClone insider trading scandal. Federal prosecutors have widened their probe of the home decorating diva to include possible obstruction of justice and making false statements related to the sale of ImClone Systems Inc. Stewart is under investigation by federal prosecutors about whether she had inside information when she sold nearly 4,000 shares of ImClone a day before the drugmaker's experimental cancer treatment was rejected.......Stewart is a close friend of Sam Waksal, the former chief executive of ImClone. Waksal was arrested two weeks ago on charges of insider trading.
Source: Yahoo News LINK

So, if the prosecutors are right, veracity is not a necessary ingredient of an attractive lifestyle, not in America at least.

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