Jon's post got me a little more interested in this Martha Stuart businsess. After reading his post I was ready to do my Law and Order rant, when I scream at the criminal who is being investigated, "DON'T SAY THAT, YOU IDIOT!!! GET YOUR LAWYER IN THERE!" However, after looking at the indictment, it looks like Martha was smarter than most of the Law and Order perps. She got a lawyer, and brought him with her to her interview. Problem is, the guy just sat there as Martha lied herself into deeper and deeper trouble.

Now, my limited experience in criminal law indicates that Martha, like most suspects, and even most defendants, lied to her lawyer as well. But, in this situation, her lawyer could have prevented it. If Jon's right about the securities law here (which I'm sure he is), her lawyer should have given her a speech that went something like this:

Martha, I hear what you've said, now let me describe the legal landscape here. If you did insider trading, the consequences are not very grave. You'll probably not get convicted because they can't prove that you KNEW the information was confidential inside information. And, even if you do get convicted, you'll only have to disgorge your profits of $45,000. That, Martha, is about what you make while you drink your morning cup of coffee, and less than it will cost me to represent you in a criminal case. I mention a criminal case to you because, if you lie, these guys can put you in jail for false statements and obstruction of justice, even if they can't prove you broke the law, and even if you didn't break the law. Jail, Martha, as in where you'll need a pen pal to keep up your self esteem. Now, is it possible that there is something you forgot to tell me?"

Seems like any reasonable person would, at that point, say, ok, ok, the gig is up, thus avoiding this whole mess.
- posted by Tom Sawyer @ 10:08 AM