Martha Stewart Convicted on All Counts

MARCH 5, 2004 - Posted at 3:35 p.m. CDT

NEW YORK, NY - Martha Stewart is guilty on all of the charges against her.

The verdict came today from a jury in New York, in the third day of deliberations in her trial.

Her former stockbroker, Peter Bacanovic, was convicted on all but one count.

Stewart was convicted on all but one count of obstructing justice and lying to the government about her sale of ImClone stock.  Prosecutors said she had sold the stock after receiving word that ImClone's founder was dumping his own shares.

They said Stewart and Bacanovic had concocted a cover story to make it appear that they had a pre-existing agreement to sell the stock.

Stewart, who has made a career as the person to turn to for tips on homemaking and gracious living, will almost certainly see jail time.  The charges carry up to 20 years in prison, but under federal sentencing guidelines, Stewart will probably get much less than that.

Sentencing is set for June 17.

(Copyright 2004 by The Associated Press.  All Rights Reserved.)