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Non-Tech : Auric Goldfinger's Short List
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To: afrayem onigwecher who wrote (11377)3/21/2003 10:14:34 AM
From: StockDung  Read Replies (1) of 19428
 
MARTHA IS PAYING LEGAL FEES FOR POTENTIAL IMCLONE WITNESS

By LAUREN BARACK

March 21, 2003 --
Martha Stewart is shelling out thousands of dollars in legal fees for pal Mariana Pasternak - a woman who could be used as a witness against Stewart, The Post has learned.

Pasternak asked Stewart for $150,000 to pay her mortgage and her legal fees - just before Pasternak began speaking with the Justice Department last year.

Pasternak flew with Stewart to Mexico on Dec. 27 - the day Stewart sold her 3,928 shares in biotech company ImClone, whose founder and former CEO Sam Waksal has been indicted for insider trading.

Stewart balked at paying Pasternak's housing costs, but agreed to pay her legal expenses, according to a source familiar with the investigation.

Stewart is currently being investigated by the U.S. Justice Department and the Securities and Exchange Commission for possible insider trading and obstruction of justice connected to the ImClone trading scandal.

The S.E.C. served Stewart, the chairman of Martha Stewart Omnimedia, with a Wells Notice last year.

Stewart sold her ImClone shares the same day her pal, ImClone's CEO Sam Waksal, tipped family members that the Food and Drug Administration was rejecting a marketing application for ImClone's experimental drug Erbitux.

When that news hit days later, the stock started its dramatic downward spiral.

A spokesman for Martha Stewart Omnimedia declined to comment. Lawyers for Pasternak and Stewart could not be reached for comment. A spokeswoman for Martha Stewart could not be reached for comment.
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