Stewart stock scandal boss jailed

IMCLONE SYSTEMS founder Sam Waksal was sentenced to seven years and three months in prison yesterday for an insider-trading scandal that ensnared his family and threatens US home and style guru Martha Stewart and her home decorating empire.

Wed, 11 Jun, 2003 - 01:00
Erin McClam, New York

He also was ordered to pay over $4 million in fines and back taxes.

US District Judge William H Pauley rejected Waksal's plea for a lighter sentence based on ImClone's cancer research, Waksal's humanitarian works and the intense media interest surrounding the case.

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CourtsPlace: USPlace: Manhattan courthousePlace: AmericaPerson: StewartPerson: Sam WaksalPerson: Martha StewartPerson: District JudgePerson: William H PauleyPerson: WaksalPerson: Assistant US AttorneyPerson: Michael SchachterPerson: AlizaPerson: Peter BacanovicPerson: BacanovicPerson: Mark PomerantzPerson: PomerantzPerson: SchachterOrganisation: ImCloneOrganisation: Food and Drug AdministrationOrganisation: Securities and Exchange Commission
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