Stage Is Set For Key Day Of Testimony In Stewart Case

Article Abstract:

The Martha Stewart securities fraud case is ready to proceed with the prosecution's most important witness, Daniel Faneuil. He was the Merrill Lynch brokerage assistant to Stewart's co-defendant Peter E. Bacanovic. Faneuil was the key link in conveying to Stewart that ImClone Systems founder Samuel D. Waksal and his family were unloading their shares and that she should do the same with her 3,928 shares due to regulatory problems with a new drug that would have helped the company immeasurably. The prosecution's initial strategy will be to show the interaction Stewart had that gave her advantageous warnings denied other stockholders.

Obstruction of justice, Evidence, Faneuil, Daniel

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The Stewart Trial's Other Star

Article Abstract:

Former Merrill Lynch broker Peter E. Bacanovic appears to be having a difficult time dealing with the charges of securities fraud and conspiracy against him and his former client Martha Stewart. Bacanovic has withdrawn to Los Angeles and deserted his New York City social life while the trial is unfolding. Friends and former clients defend his sincerity and loyalty and find it hard to believe that he would engage in any kind of insider trading of ImClone shares.

United States, Financial management, Public affairs, Securities issued, listed, New York, Social aspects, Economic aspects, Finance, Behavior, Securities, New York, New York, Rich, Rich people, Insider trading in securities, Insider trading (Securities), Company securities, ImClone Systems Inc., Company financing, Diagnostic reagents industry, Upper classes, Upper class, IMCL

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