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Judge drops fraud charge against Martha Stewart

By Sridhar Krishnaswami

WASHINGTON, FEB. 28. The Judge in the Martha Stewart trial has thrown out the securities fraud charges against her saying that the prosecution had failed to present sufficient evidence that would allow the jury to decide in the issue.

The most serious of the charges against Ms Stewart accused her of deceiving investors in her company, the Martha Stewart Living Omnimedia, by lying about her sale of stocks of ImClone Systems Inc. A conviction in the securities fraud charge could have resulted in a prison term of ten years.

The Judge however retained the other charges against the celebrity homemaker and these would include conspiracy, obstruction of justice and two counts of lying to investigators. The District Judge also declined to drop any of the charges against Ms Stewart's former stockbroker, Peter Bacanovic.

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