New York, NY, Oct. 21--The enforcement staff of the Securities and Exchange Commission intends to recommend filing civil securities fraud charges against Martha Stewart over her sale of ImClone Systems stock late last year, according to the Wall Street Journal.
Stewart, chief executive of Martha Stewart Living Omnimedia, is already under investigation by the U.S. Justice Department over the stock sales. Former ImClone CEO Samuel Waksal pleaded guilty to some insider trading charges earlier this month.
The SEC informed Stewart of its plans, although any final charges would have to be approved by the entire SEC in Washington, the Wall Street Journal reported.
Martha Stewart Omnimedia declined comment, referring the matter to her personal representative, who was not immediately available for comment. An SEC spokesman had no comment.
