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Friday, November 13, 2009 1:58:30 PM
After a highly publicized, five-week jury trial that was the most closely watched of a wave of corporate fraud trials, Stewart was found guilty in March 2004 of conspiracy, obstruction of an agency proceeding, and making false statements to federal investigators and sentenced in July 2004 to serve a five month term in a federal correctional facility and a two year period of supervised release (to include five months of electronic monitoring). [13]
Stewart agreed in September 2004 to begin serving a five-month prison term while her appeal was still pending. In October 2004, she reported to Alderson Federal Prison Camp in West Virginia. She was released on March 4, 2005, after which she was placed under electronic monitoring for an additional 5 months.
Bacanovic and Waksal were also convicted of federal charges and sentenced to prison terms.[14][15] Stewart also paid a fine of $30,000.[16]
In August 2006, the Securities and Exchange Commission announced that it had agreed to settle the related civil case against Stewart. Under the settlement, Stewart agreed to a five-year bar from serving as a director, or as the CEO, CFO (or other officer roles in which she would be responsible for preparing, auditing, or disclosing financial results), of any public company.[17] In June 2008, the UK Border Agency refused to grant her a visa to enter the United Kingdom because of her criminal conviction for obstructing justice. She had been planning to speak at the Royal Academy on fashion and leisure indust
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