Byline: TOM HAYS Associated Press
NEW YORK -- ImClone chief executive Samuel Waksal, whose arrest on insider trading charges has cast suspicion on Martha Stewart, was indicted Wednesday, apparently after attempts to cut a deal with prosecutors broke down.
The indictment brings new charges of obstruction of justice and bank fraud against Waksal in addition to previous securities fraud and perjury charges.
The bank fraud count, which carries a maximum sentence of 30 years in prison, alleges Waksal defrauded Bank of America between April 1999 and January by securing $44 million in loans with ImClone stock he no longer owned.
In June, Waksal …
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