Martha Stewart is an American business Magnate, television host, author and a magazine publisher. She was named the third most powerful woman in America. She was convicted of lying about stock sales in 2004. For this she served five months in prison.
She had actually avoided a loss by selling all her shares of ImClone stock in 2001. This case drew heavy media attention. However, Martha kept very low during this time. When the court hearings started, she stepped down as CEO and chairwoman of MSLO. When the charges were proved, she was made to pay a fine as well as serve five months in prison.
