Sam Waksal: Free in August!

ImClone founder Sam Waksal is five years into his seven-year insider-trading sentence, but he’s coming back. Next month, he’ll reportedly be sent to the Bronx Community Re-entry centre where he’ll only be allowed to leave for certain occasions, including job interviews.

Once the folks in the Bronx realise he’s still loaded and doesn’t need a job, they’ll probably boot him back to Manhattan so he can finish the rest of his sentence under home confinement and re-acquaint himself with sharp objects.

New York Magazine: Sam Waksal‘s friends are spreading word that the ImClone founder is coming back to New York. He’s five years into a seven-year insider-trading sentence at the federal prison in Milan, Michigan, but they say he’ll be out in August.

Don’t expect a labour Day blowout at his Hamptons haunts, however; he’ll likely finish up his summer at the Bronx Community Re-entry centre, a halfway house. Residents are only allowed to visit barbers and laundromats, attend religious services, and go on job interviews.

But Alan Ellis, former head of the National Association of Criminal defence Lawyers, suspects Waksal, who was linked to both Martha Stewart and her daughter, Alexis, won’t be in the Bronx for long. “If they realise he doesn’t need a bed or help getting a job,” he says, “they might decide after a month they can refer him to home confinement, like Martha was.” In the meantime, he’ll adjust, Ellis says. “You have to retrain yourself to do something as simple as slice bread, since you’ve been away from sharp objects.”

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