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Why Is Martha Stewart Illegal

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Martha Stewart was hold under suspicion for insider trading however she was never charged for illegal inside trading. Although, the government tried to make case. She was hold under suspicion because she had sold her stock shares ImClone due to her broker’s advisement Peter Bacanovic allegedly. Martha accused on eight different counts conspiracy, obstruction of justice, and making false statements. The question is whether Martha Stewart really break the law? Insider trading usually happens when trading on the stock exchange for one’s own advantage by having access to confidential information. If Martha had agreed to sell her shares beforehand without knowing any insider information it won’t be an issue. On the other hand if she had gotten any …show more content…

Which, apparently did not happened. Martha seem to only be aware Mr. Waksal and his daughter sold their shares in their Merrill Lynch accounts. It is unclear how important or crucial was this information to Martha Stewart. Since, there are many reason why shareholders might sell. The call Martha Stewart had with Mr. Waksal after her conversation with her broker remains speculation. After, placing the call to Martha could have wonder what the reason for selling was. And if in this case Mr. Waksal stated the reasons thus being confidential information that would have been illegal. If Martha Stewart had no previous knowledge she shouldn’t have been hold accountable for inside trading furthermore, this would not be enough evidence for a jury to convict her. Whether, Stewart sold her shares based on a prior sell agreement or based on information given to her by Mr. Waksals. In the first, situation she is innocent of wrongdoing. In the second, situation she traded on confidential information that the Waksals were selling. However, we can only speculate if this material was enough for convicting her for a crime. We cannot deny that this information is

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