, the founder of ImClone Systems Inc (New York) who spent five years in prison for insider trading, won permission from a judge to travel overseas as he seeks to resume a career in medical research and biotechnology.
The prosecutors charged that Stewart sold 3,928 shares of Imclone on December 27, 2001, a day before the negative ruling on Imclone's application for an experimental cancer drug, because she was tipped off by her friend and Imclone founder, Samuel Waksal
CEO Samuel Waksal
was arrested on insider trading charges; and WorldCom Inc.
One highly publicized case involved ImClone's CEO Samuel Waksal
NEW YORK - ImClone Systems founder Samuel Waksal
pleaded guilty Monday to conspiracy and wire fraud, admitting he avoided paying $1.
The big insider trading scandal of 2002 came at drug maker ImClone, where CEO Samuel Waksal
and his family and friends sold company shares right before the company disclosed some bad news: the FDA was not going to examine its new cancer drug Erbitux.
He questioned Stewart's claim that she had an agreement to sell her shares of ImClone Systems, a biotech company founded by her friend Samuel Waksal
, if the price fell below $60.
Stewart is close to ImClone's founder, Samuel Waksal
, who is charged with illegally tipping family members to sell their stock before the announcement.
s former CEO, Samuel Waksal
, who pleaded not guilty to insider trading, obstruction of justice and other charges related to alleged actions he took following setbacks with the cancer drug Erbitux at the end of 2001, received the highest total direct compensation amount among the 227 full-year CEOs included in the just-released BioWorld Executive Compensation Report 2003.
, former chief executive of ImClone, was arrested June 12 on insider trading charges.
JAB267) SAMUEL WAKSAL
, CEO of IMCLONE SYSTEMS INC (IMCL), describes the company's business and its background; prospects for the industry, with positive and negative trends; competitive threats; strategic opportunities for the firm including its marketing plans and acquisition potential; management strength and organization; and the financial prospects of the firm looking forward.
Martha Stewart and Peter Bacanovic, and in the prosecution of the former CEO of ImClone Systems, Samuel Waksal
, among other high profile cases.