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To: Alan Smithee who wrote (13923)	8/7/2002 5:11:01 PM
From: Augustus Gloop	Read Replies (2) of 17639

ImClone CEO Indicted In Insider Trading Scandal Scandal Tarnished Martha Stewart's Image POSTED: 5:05 p.m. EDT August 7, 2002 UPDATED: 5:06 p.m. EDT August 7, 2002 NEW YORK -- Prosecutors say ImClone founder and CEO Samuel Waksal has been indicted today in an insider trading scandal that has tarnished Martha Stewart and her home fashion empire. The indictment filed in federal court in Manhattan was not immediately available, but prosecutor Michael Schachter told reporters outside court that it charges Waksal with bank fraud, perjury, obstruction of justice and other counts. In June, Waksal -- a friend of Stewart's -- was arrested on insider trading charges for allegedly tipping off members of his family to sell ImClone shares. Prosecutors accuse Waksal of secretly advising his daughter and father to sell their shares before the Food and Drug Administration officially announced it had rejected the biotech company's effort to win approval for a highly touted cancer drug. Investigators also targeted Stewart after learning that she disposed of nearly 4,000 shares before the public announcement.

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