Another martini, Mr Lay?
The enforcement unit (ooooohhhh!) of the Securities and Exchange Commission plans to recommend filing securities fraud charges against Martha Stewart, Democrat, over her sale of ImClone Systems stock. The move by the SEC comes a week after former ImClone CEO Samuel Waksal, a friend of Stewart, pleaded guilty to some insider trading charges.
''The real question is not whether the SEC will bring a case, but whether there will be criminal charges. Typically, criminal and civil charges are filed at the same time,'' says lawyer Jacob Frenkel. "I mean after all, it's not like she's a big republican donor or anything."
October 22, 2002
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