America 's best loved homemaker , Martha Stewart , is known for her recipes and her practical home applications that have saved time and money for millions of housewives all over the world . Yet , behind that fazade , there is another side of Martha Stewart that is not seen by many and has recently been brought to light following her indictment in the ImClone stock scandal of 2001 . The United States Securities and Exchange Commission accused Martha Stewart of insider trading by acting on an insider tip that allowed her to avoid a loss of a
paltry US 45 673 . This was the proverbial straw that broke the camel 's back as the authorities had already begun scrutinizing the moves of Martha Stewart even prior to such sale . As such , this eventually led to her conviction and her jail sentence
The beginnings of this controversy were first unveiled when it was discovered that Martha Stewart made a large sale of stocks a day before the price of the stock plunged . When the drug of ImClone , Erbitux , was not able to secure the approval of the Food and Drug Administration (FDA , the stock prices dropped . It was noticed , however , that even prior to the final decision of rejection several of the high ranking executives of the company had begun unloading their stocks . This began the series of investigations that led to the arrest and conviction of several of the founders , executives and stockholders of ImClone
In the Congressional hearing that ensued , it was shown...
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