Stewart Guilty of All Counts

Updated from 4:35 p.m. EST

Martha Stewart, who created a media empire and made her name a household word, was found guilty Friday of obstruction of justice, conspiracy and two counts of making false statements to investigators, handing the government its biggest financial markets conviction since Michael Milken was locked up in 1990.

The conviction of Stewart, 62, marks a stunning reversal for an executive who had, until now, been known for her savvy, cunning and sheer hard work in building her media company.

Stewart faces up to five years in prison on each count, although federal guidelines could reduce the prison time to a mere fraction of that total. ...