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Friday, February 13, 2004

Stewart defense team on deck



By Erin McClam
The Associated Press

NEW YORK - The government expects to rest its case against Martha Stewart and her former broker next week, and jurors are likely to begin deliberations in the stock-fraud trial sometime in March.

Lead prosecutor Karen Patton Seymour told the judge the government would finish presenting its witnesses before Feb. 20. She said she expected to have a more precise estimate today.

Stewart lawyer Robert Morvillo said he expected Stewart's defense to take up to three weeks - "if we put on a defense." Legal experts say it is highly unlikely Morvillo will gamble by not offering his own witnesses.

The lawyers gave U.S. District Judge Miriam Goldman Cedarbaum their estimates as court concluded Wednesday. The trial, in recess Thursday for Lincoln's Birthday, was to resume this morning.

Stewart and former broker Peter Bacanovic are accused of lying to investigators about why Stewart sold 3,928 shares of ImClone Systems stock Dec. 27, 2001, just before it plunged on a negative government review of an ImClone drug.

Prosecutors in the Stewart case have called 11 witnesses, including an FBI agent and a Securities and Exchange Commission official who gave details of what prosecutors say were Stewart's lies in early 2002 as she tried to explain the sale.



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