Peter Bacanovic

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Peter E. Bacanovic (Serbian: Баћановић, transliteration: Baćanović) (born April 21, 1962), Martha Stewart's stockbroker and fellow defendant in the ImClone stock 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 Bank of America, 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.

Often a souce of interest in the New York gossip columns, Bacanovic was linked to a wealthy man[1].

New York Post, Sept. 20, 2006:

"Peter Bacanovic, Martha Stewart's stockbroker, can't find a job, but he has found a rich friend. Bacanovic has become "extremely close" with Jamie Creel - the heir to the Colgate Palmolive fortune who runs L'Atelier du Savon, the pricey Parisian store that sells fine soaps. "Jamie had been in L.A. a lot to visit Peter - who has been sending him flowers and chocolates," said one spy, and another confirmed sightings of the two all over L.A. The friendship has confounded Creel's business partner and other close friend, Marco Scarani, "who has been stuck in Paris wondering what is going on," another spy added." [2]

[edit] Career

Before beginning work at Merrill Lynch in 1993, Bacanovic spent time in marketing at ImClone.^{[citation needed]}

In December 2007, he was named chief executive officer of jeweler Fred Leighton.[3]

[edit] Trial

Main article: ImClone stock trading case

Bacanovic 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. The SEC also barred Bacanovic from associating with any broker or dealer.[4]