Word: stewart
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...that was when relations were good. Two months later, as new facts about her case have surfaced, Tauzin's patience with Stewart has worn thin. Congressional investigators increasingly see her as uncooperative, and that's usually enough to create bipartisan resolve. Sources told TIME last week that Stewart has twice spoken to the FBI, which is investigating ImClone, and gave the account told in the letter...
...Stewart faces issues far worse than congressional ire. Prosecutors are building a case against her on charges of insider trading, obstructing justice and making false statements. Sources say they are trying to gain the cooperation of Martha's friend Mariana Pasternak, who was with her on the day of the ImClone stock sale...
Tauzin is so frustrated by Stewart that he may subpoena her to appear in September despite the Justice Department investigation. He has been negotiating for weeks with Stewart's lawyers, who are trying to stave off a summons that would create a difficult choice for the Princess of Propriety: testify at the risk of contradicting herself under oath or assert her Fifth Amendment right against self-incrimination. The latter is her legal privilege, but would do nothing to help the stock of her company, Martha Stewart Living Omnimedia, which has fallen 65% since the ImClone news broke...
Tauzin and investigations-subcommittee chairman Jim Greenwood are annoyed in part because the evidence provided by Stewart's lawyers has continually "tweaked" her story, Johnson says. In the June 12 letter, they said Stewart's Merrill Lynch broker Peter Bacanovic called her on Dec. 27, informed her that ImClone's shares had dropped below $60 and sold at 1:43 p.m. The chronology helped bolster her claims of an earlier stop-loss order. But her story changed with new documents obtained from Stewart's office six days later. Instead of a single call from Bacanovic on the afternoon...
...committee disclosed more information last week, deepening suspicions that Bacanovic, who was also Waksal's broker, had advance knowledge of the FDA rejection. In a Dec. 27 e-mail sent to his assistant before the Stewart sale, Bacanovic asked, "Has news come out yet? Let me know, thx, P." The assistant replied, "Nothing yet. I'll let you know. No call from Martha, either." The FDA rejection was announced after the market close on Dec. 28. Bacanovic's assistant, Douglas Faneuil, at first backed Stewart's story. But published reports say he later recanted, telling prosecutors that Bacanovic prompted...