NEW YORK, March 5 (UPI) -- A New York jury Friday found Martha Stewart guilty of conspiracy and making false statements regarding her decision to dump ImClone stock.
Stewart could face 20 years and fines of up to $1 million.
A jury of eight women and four men found Stewart guilty on all four counts brought against her, one each for conspiracy and obstruction of justice, and two counts of making false statements.
Each count carries a possible sentence of five years in jail and a fine of up to $250,000. She made the false statements to U.S. Securities and Exchange Commission investigators in February 2002.
Stewart's stockbroker, Peter Bacanovic, was also found guilty of conspiracy, obstruction of justice and making false statements. In addition, Bacanovic was found guilty of perjury. He was found innocent on a documents charge.
In response to a question from the jury, Judge Miriam Goldman Cedarbaum earlier ruled jurors could use witness testimony and supporting documents to decide if Bacanovic had committed perjury.
Stewart was believed to have dumped her ImClone stock on a tip her friend and company owner, Sam Waksal, was selling his off. She denied that, claiming instead she and Bacanovic had agreed to sell her stock once it reached a set price of $60 a share.
