Stewart Estimates $1 Billion Loss Over Stock Trading Conviction

Lifestyle guru MARTHA STEWART's stock trading conviction cost her business $1 billion.
The billionaire U.S. TV host was indicted in 2003 on federal charges of securities fraud, conspiracy, and obstruction of justice stemming from a December 2001 stock trade.
Stewart was accused of selling 4,000 shares of ImClone Systems stock based on an insider tip and lying to authorities. She was sentenced to five months in prison and five months of home arrest, followed by two years of probation.
In an interview with U.S. news programme Nightline, which is set to air on Thursday night (19Nov09), Stewart candidly addresses the state of her finances, admitting she regrets the money wasn't allocated to more charitable causes.
She explains, "(My losses are) probably more than a billion dollars... When you are prosecuted in such a way, and a great portion of wealth is dissipated, all I can think of is what I could have done with all that, and for the good of mankind, and I hope I can continue."
However, Stewart insists she has moved on from his trading mistake: "How can I kick myself? There are other people to be kicked. Let's get on with the future."
.


Contactmusic

Tags: Martha Stewart


Editors Recommendations

Can 'Game of Thrones' Get Any Bigger? Alex Graves Says it Already Has

‘Game of Thrones’ is a cultural phenomenon, whatever you think of the qualities it does...

Can 'Game of Thrones' Get Any Bigger? Alex Graves Says it Already Has

Jay-Z and Beyonce Plot Joint Stadium Tour for Summer 2014

Jay-Z and Beyonce, on the same bill? Yep, it looks as though the world's richest and most...

Jay-Z and Beyonce Plot Joint Stadium Tour for Summer 2014

Is 'The Revenant' Leonardo DiCaprio's Oscar Winning Movie?

Leonardo DiCaprio will continue his hunt for a best actor Oscar with Gonzalez Inarritu's...

Is 'The Revenant' Leonardo DiCaprio's Oscar Winning Movie?

Ben Affleck Is Creepy And Questionable In First Trailer For David Fincher's "Gone Girl"

The first trailer for David Fincher’s Gone Girl is out. The last bit of news about the Gillian Flynn...

Ben Affleck Is Creepy And Questionable In First Trailer For David Fincher's

Lindsay Lohan's Show Slammed By Rosie O'Donnell - Is She Right?

Lindsay Lohan has been hit with the shame and bad publicity of a fellow entertainer...

Lindsay Lohan's Show Slammed By Rosie O'Donnell - Is She Right?

The Next 'Breaking Bad'? 'Fargo' Ep. 1 Is A Must-See [Video]

New television series Fargo premiered last night on FX, giving American audiences...

The Next 'Breaking Bad'? 'Fargo' Ep. 1 Is A Must-See [Video]

Woah, Check Out This Wacky Dude: Aaron Taylor-Johnson on His Past Life

Aaron Taylor-Johnson might seem pretty subdued for a 23-year-old Hollywood actor...

Woah, Check Out This Wacky Dude: Aaron Taylor-Johnson on His Past Life

How The Oculus Rift Virtual Reality Headset Will Change Life As We Know It

Facebook have been splashing out a lot of money lately! Although, we have to say...

How The Oculus Rift Virtual Reality Headset Will Change Life As We Know It

No, AC/DC Are Not Splitting Up After All. Probably.

It looks like AC/DC fans can breathe a sigh of relief, because rumors of the band’s...

No, AC/DC Are Not Splitting Up After All. Probably.


More recommendations

Comments

Martha Stewart Newsletter

Subscribe to this news alert service to receive news and reviews on Martha Stewart

Unsubscribe | Unsubscribe All