In another strange twist in the stock fraud trial of Westport’s Martha Stewart, federal authorities today charged a government witness with lying on the witness stand.
But they said the false testimony did not make her conviction invalid.
Prosecutors said they had discovered false statements made on the stand by Larry F. Stewart, a national ink expert who works at the Secret Service.
A government news release said prosecutors did not believe any of the new information called into question the “integrity or validity” of the convictions of Martha Stewart and broker Peter Bacanovic.
Martha Stewart was convicted March 5 of lying about why she sold 3,928 shares of ImClone Systems stock in 2001, just before the stock price plunged.
The government said it had uncovered eight separate false statements made by Larry Stewart, who is no relation to Martha Stewart.
Among the alleged false statements by Larry Stewart was that he took part in an August 2002 examination of a key piece of evidence, a brokerage worksheet that Bacanovic used to track Stewart’s portfolio at Merrill Lynch & Co.
During the trial, Larry Stewart testified that a notation of “(at)60” on the worksheet had been made in a different ink than other marks on the sheet.
Larry Stewart of the Secret Service said infrared and ultraviolet light tests had confirmed differences between the “(at)60” entry and other marks.
“The ‘(at)60’ entry is a different ink than the remaining entries on the document,” the scientist said.
Stewart had contended she had an agreement with her broker to sell Imclone shares when the price fell to $60 per share. Prosecutors suggested the allegedly different ink on the reference to 60 showed it was added later.
Under cross-examination, the ink expert had testified it was impossible to tell how many pens had been used to mark on the document. Bacanovic’s team contended he simply used different pens in his work.
Shares in Martha Stewart Living Omnimedia Inc. had jumped 15 percent afternoon when news of the pending announcement broke.
Wake up what is it going to take for all to see this case for what it is.even if you do not care for Martha.You must admit if you know the whole story that this was a witch hunt.The lying began with the investigating committee that Jim Greenwood was on he leaked that Martha commited insider trading which was not true,Jim Comey said this case was about what she did not who she was,only a idiot would believe that,if that was indeed true Mr Comey I would think the charge would be more serious if it was under oath as that Juror was when he lied.Now we have a prosecutors witness who lied on the stand against Martha,and that is to have no baring on the case.All charges should be thrown out.And it should be shouted loud and clear,This is a disgrace.To have prosecutors say that this does not affect the verdict and to have them think that it is okay and we will buy it.I say the lies are being told by them.