Martha Stewart to Be Sentenced Friday

Martha Stewart, whose bid for a new trial was denied last week by a federal judge, is scheduled to be sentenced Friday, along with her former stockbroker, Peter Bacanovic.

Stewart was found guilty March 5 of conspiring with Bacanovic, who worked for Merrill Lynch & Co., to hide the reason behind her sale of shares in biotech company ImClone Systems Inc. on Dec. 27, 2001. She was convicted of one count of conspiracy, two counts of making false statements and one count of obstruction of agency proceedings. Bacanovic was also convicted in the case.

Legal experts predict that Stewart, who built a media empire on tips for gracious living, could get a prison term ranging from 10 to 16 months when she goes before U.S. District Judge Miriam Goldman Cedarbaum.

Stewart’s lawyers had sought a new trial after a Secret Service laboratory director was indicted on suspicion of perjury. The technician testified as an expert witness about ink on a worksheet kept by Bacanovic.

“Because there is no reasonable likelihood that this perjury could have affected the jury’s verdict, and because overwhelming independent evidence supports the verdict, the motions are denied,” Cedarbaum said in a 43-page ruling.

The judge previously rejected arguments that the conviction should be thrown out on allegations that a juror lied on the jury selection questionnaire and made public statements showing his bias against the rich and famous.

The defense team plans to file an appeal after Stewart’s sentencing.