Martha Stewart failed to pay the $220,000 taxes on her New York home, arguing that because she rarely spent time there, she shouldn't owe taxes on it.
Stewart lied to federal investigators about a supposed "deal" she had with Pharmaceutical company ImClone Systems to sell her share of the stock if it ever dropped to under $60. There was no such deal.
The business mogul sold 4,000 shares of stock valued at $228,000 the day before ImClone announced that its highly anticipated anti-cancer drug was not approved by the FDA. Her inside trading was never proved, but she spend 18 months in jail for lying to the feds.
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