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What is insider trading? Most commonly insider trading is demonstrated by an individuals use of insider information, otherwise known as non-public information to their advantage in the stock market.

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Martha Stewart is a billboard of insider trading scandals. This is due to her high profile status as a successful business woman and television personality. This ultimately led to her sketchy use of the market to be publicized nationwide.

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Mrs. Stewart was Born on August 3rd 1941, in New Jersey. She was one of six siblings in her polish/american family.

Stewart attended Barnard College, and graduated with a degree in history and architectural history in 1961.

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Before becoming a household name Stewart worked as a stockbroker and model.

She later moved on from this and entered the food and catering industry. With her knew obtained knowledge she was able to publish books about "entertainment".

In 1990, Stewart launched Martha Stewart Living, a magazine that combined home decor, gardening, cooking, and entertaining. The magazine was hugely successful and established Stewart as the go-to expert on all things related to home life.

Stewarts experience as well as charisma allowed her to great success on television. She was practically able to turn the ideas in her book and magazines into a show in which she could show off her creative imagination in the aspects of domestic life.

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Martha Stewart owned 4,000 shares of ImClone Systems, a biotech company that was developing a cancer drug called Erbitux. This companies stock was about to tank due to a decision made by the FDA rejecting approval of the drug. This was not public information, but Stewart was tipped by her broker Peter Bacanovic. She now had a choice, let herself loose a ton of money, or illegally avoid her doom. Martha Stewart chose to sell her shares when just days later the stock had a dramatic fall.

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Initially, Stewart was not charged with insider trading, but she became apart of a federal investigation over the sale. The point of the investigation was to see if she had made the sale out of pure luck or insider information. While investigating it was found that Stewart and her broker had made false statements regarding the trade. This is were it all went downhill for Stewart.

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Stewart was charged with obstruction of justice, making false statements, and conspiracy. The charges were not yet about insider trading itself but from her efforts to cover up the true nature of the trade of ImClone shares. Stewart and her broker were also accused of conspiring to mislead investigators about the sale.

Stewart's trial took place in 2004. She was ultimately convicted on charges of obstruction of justice and making false statements. The jury found that she had lied to investigators about the timing and reasoning behind the sale of her shares in ImClone.

In July 2004, Stewart was sentenced to five months in federal prison, five months of home confinement, and two years probation. She was also fined $30,000.