Martha Stewart Jury Deliberates, Requests Testimony
The jury in the Martha Stewart trial ended its first day of deliberations without a verdict, and seemingly without much movement toward one. The jury did, however, request some key evidence to ponder when it resumes deliberations at 10 a.m. EST Thursday.
After a full afternoon of deliberations, the 12 jurors offered a small insight into their progress when they sent Judge Miriam Goldman Cedarbaum a note requesting a host of additional evidence to review, including: transcripts of Peter Bacanovic's Feb. 13, 2002, meeting with government investigators, the phone message logs of Stewart's assistant Anne Armstrong, and the transcript of testimony by Securities and Exchange Commission agent Helene Glotzer.
The jurors also requested government exhibit 81, which is the profit/loss worksheet Bacanovic used to track Stewart's brokerage account in December 2001. In count five of their indictment against the former Merrill Lynch broker, the government alleges that Bacanovic doctored the worksheet by adding "@60" after the fact to the line that lists ImClone Systems (IMCL). The defense maintains that Bacanovic simply used a different pen when making the "@60" entry on the page.
Stewart and Bacanovic, the co-defendants, face five years in prison each on charges they obstructed justice by inventing a story that Stewart had an agreement to sell ImClone shares when they fell to $60.Earlier in the day, Cedarbaum sent the case to the jury. She told the jury of eight women and four men that there's "no magic formula by which you should evaluate testimony," adding that "in deciding what to believe, remember that you should use your common sense and good judgment." She noted that accomplice testimony -- the type of evidence on which the government's case rests in large measure -- needn't be corroborated, but "must be scrutinized with particular care." The government's star witness was Douglas Faneuil, an assistant to Bacanovic, Stewart's stock broker. On Monday, defense and prosecution lawyers alike told the jury in federal court in Manhattan that Stewart's fate should turn on the believability of Faneuil, the 28-year-old former Merrill Lynch clerk who claims to have given her a perfectly timed stock tip at the behest of his boss.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV