Martha Stewart was convicted of `obstructing justice and lying to the government' about her removal of her stocks from ImClone Systems. In 2001, on December 27, Stewart sold $228,000 worth of ImClone Systems stock. This was because of the suggestion made by her stock broker, Peter Bacanovic. Bacanovic told Stewart that the CEO of ImClone, Sam Waksal, was selling his own stock for the company. The day after Stewart sold her stock, the Food and Drug Administration announced that they would reject ImClone's application for drug cancer. After this announcement, ImClone's stock drastically dropped. Waksal was later accused of insider trading and serving 20 years. Bacanovic and Stewart were not accused of insider trading, rather, they were accused of lying about the transaction and altering records to support their cover story.

After her convicted charges on four different counts, Stewart released a statement that concluded that she was still claiming innocence, despite...