Peter Bacanovic

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Peter E. Bacanovic (Petar E. Baćanović) (born April 21, 1962), Martha Stewart's stockbroker and fellow defendant in the ImClone scandal.

1 Personal
2 Career
3 Trial
4 References

[edit] Personal

Bacanovic grew up in New York City. His father, a mid level banker at BoA, was a Serbian who emigrated to the USA, and his mother is a doctor born in Greece. He graduated from Columbia University in 1984. He received his masters of business administration (MBA) from New York University in 1988. Bacanovic is fluent in Greek and French.

[edit] Career

Before beginning work at Merrill Lynch in 1993, Bacanovic spent time in marketing at ImClone.

[edit] Trial

He was found guilty on four counts: perjury, conspiracy, making false statements and obstruction of agency proceedings. As with Stewart, he was not convicted of any improper sales of securities.

On July 16, 2004, he was sentenced to five months imprisonment and five months of home incarceration, followed by two years' probation. As of 2005, he had completed his imprisonment (at Nellis Prison Camp, outside Las Vegas, Nevada) and was on probation.

In August 2006, Bacanovic reached a settlement with the Securities and Exchange Commission. In exchange for the SEC not charging him with insider trading related to the ImClone scandal, Bacanovic agreed to pay $75,000, although he did not admit to any wrongdoing.[1]