CNN/Money  
graphic
News > Companies
graphic
Waksal to start prison term
Former ImClone CEO begins his seven-year, three-month sentence for securities fraud.
July 22, 2003: 3:55 PM EDT

NEW YORK (CNN) - Former ImClone founder and CEO Sam Waksal on Wednesday will begin his seven-year, three-month sentence for securities fraud, conspiracy and obstruction of justice.

graphic
graphic graphic graphic
graphic
See what former ImClone founder and CEO Sam Waksal's new schedule will be like in the Schuylkill Federal Correctional Institution.

Play video
(Real or Windows Media)
graphic
graphic

He will do his time at Schuylkill Federal Correctional Institution in Minersville, Pa., where he will be housed in the prison's minimum-security facility.

Dan Dunne, public information officer for the Federal Bureau of Prisons, told CNNfn that Waksal will be put to work from 7:30 a.m. to 3:30 p.m. five days a week. He is expected to be assigned to the menial tasks typically given to new inmates such as cleaning pots and pans, mowing the grass, cleaning housing areas and mopping floors.

After the 5 p.m. evening meal, Waksal and other inmates will be allowed to take part in religious services or education and drug treatment programs until 8:30 p.m., when they will be locked down in the housing unit.

About 300 inmates are housed in the facility, sleeping in what Dunne called "military-style -- rows of bunk beds, common toilets and showers." Each inmate has a personal locker but there is very little privacy.

The only perk allowed is 300 minutes of phone calls a month, excluding attorney phone calls. All personal calls are monitored.

Fifteen to 20 hours of personal visits are allowed every month, with visitors being searched upon their arrival at Schuylkill.

Separately, Sam's brother Harlan Waksal resigned as chief scientific officer of ImClone (IMCL: Research, Estimates) Monday, severing the biotech firm's ties with its scandal-ridden founders.  Top of page




  More on NEWS
'Ask SeaWorld' marketing campaign backfires
Lena Dunham slammed for 'Dog or Jewish boyfriend?' quiz
Google strikes back at Wall Street Journal - with a laughing baby
  TODAY'S TOP STORIES
The U.S. economy is showing cracks
19 stocks to buy now
Indiana backlash: Opposition to anti-gay law grows




graphic graphic