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November 9, 2009

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Stewart’s stockbroker to be released from Nellis prison

Thursday, June 16, 2005 | 10:53 a.m.

Martha Stewart's stockbroker, who has spent five months behind bars at Nellis Prison Camp, is scheduled to be released today.

Peter Bacanovic, a former Merrill Lynch & Co. stockbroker, was convicted in March of lying to federal investigators about the sale of Stewart's stock of ImClone Systems Inc.

Bacanovic began serving his five-month sentence at Nellis on Jan. 18 and is scheduled to be released today, said Julie Barto, spokeswoman for Nellis federal prison, a minimum-security prison.

Barto said Bacanovic served his entire sentence at the camp.

A U.S. District Court judge also sentenced Bacanovic to serve two years probation, according to news reports.

Richard Strassberg, Bacanovic's attorney, did not return calls seeking comment. He said previously that Bacanovic would not meet with reporters upon his release.

Stewart, who was also convicted of lying to federal prosecutors about the sale of ImClone, served a five-month sentence at a minimum security federal prison in Alderson, W. Va.

Stewart was released from prison in March.

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