May 19, 2013
The man who sparked the financial scandal that landed Martha Stewart in hot water is to be sentenced Tuesday in federal court in New York.
Sam Waksal has pleaded guilty to trying to unload stock in his research firm ImClone Systems before news of a negative FDA ruling became public. Under federal guidelines, he could get five to seven years in prison.
Waksal admits he tried to profit from inside information, but says he never tipped off his friend Martha Stewart. She was indicted last week on five federal charges related to her sale of ImClone stock.
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