Stewart Ordered to Jail, House Arrest

By: Bill Blakemore
By: Bill Blakemore

The request for leniency was granted. Stewart drew a relatively light prison term, coupled with house arrest, for convictions last March relating to her sale of Imclone stock.

Following sentencing guidelines of 10 to 16 months, the judge gave Martha Stewart ten months: five in prison, five under house arrest.

The judge also agreed to stay the sentence, pending Stewart's appeal. From the courthouse steps, Martha Stewart demonstrated an unbroken spirit, ready to keep on fighting.

Stewart, who had expressed no remorse in court, since she is going to appeal insisting on her innocence, put on such a show of self-confidence afterwards, that Martha Stewart's stock jumped 40 percent and continued to trade strong all day.

Then in mid-afternoon, sentencing came down for her stockbroker, Peter Baconovic.

Stewart was convicted of conspiring with him to obstruct justice by making false statements about an agreement to sell biotech ImClone stock, just before that stock plunged.

Baconovic got the same sentence of five months in prison, five under house arrest, and it was also stayed, pending an appeal.

Baconovic's lawyer had pleaded with the judge saying, "Peter has lost it all. No career, or money, or celebrity, or fame to fall back on, and no more privacy."

Because of the stayed sentence, Stewart is still free to be out and about. It could be many months before a ruling is made on her appeal.


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