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What happens to your income when you're in jail

MustISO

Lifer
Oct 9, 1999
11,928
12
81
For people like Martha Stewart or say a CEO of a company? If the company or empire is still bringing in income, what happens to it? In the case of a CEO, I would imagine they just wouldn't get paid during the sentence but what about for Martha where money is coming in from all kinds of things.
 

GasX

Lifer
Feb 8, 2001
29,033
6
81
typically one loses their job when they go to jail...

In case of asset based income (stocks, bonds, interest income, dividends, cash distributions) it's all yours.

I suppose you could get some sort of endorsement deal while in jail and get income from that too.

Inmates often write books...
 

AlienCraft

Lifer
Nov 23, 2002
10,539
0
0
If there is no court order for restitution or fines or fees, then any income would simply go into your bank account. Martha Stewart doesn't scoop off her share then pays everyone else. In order to be a publicly traded company, you open yourself to the scrutiny of others, at their will.
Don't worry about Martha, worry about the many people that are employed by her company that now face an even more uncertain future, due to someone else's unchecked greed. Kind like the thousands at ENRON and WorldCom, whose chief executives brought down the companies due to their selfish actions.
These people need to be sued into poverty for abandoning the interests of the many employees they were obliged to protect, by virtue of their position as publicly traded companies.
 

zimu

Diamond Member
Jun 15, 2001
6,210
0
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wow imagine that.

make your money, have absolutely nothing to do- have all the free time in the world to write a book, free rent, free food, free sex, no groceries.. what else would a guy want? ;)

ok, they just need wireless internet and cable t.v. and hell i'll go kill a guy to get into jail!
 

azazyel

Diamond Member
Oct 6, 2000
5,871
0
76
I don't actually think you can earn money while in jail. I am not sure but I remember hearing something about an inmate who wrote a book but was not able to get any of the proceeds from it because he wrote it in jail.
 

GasX

Lifer
Feb 8, 2001
29,033
6
81
Originally posted by: azazyel
I don't actually think you can earn money while in jail. I am not sure but I remember hearing something about an inmate who wrote a book but was not able to get any of the proceeds from it because he wrote it in jail.
When murderers and child abusers write their life story, the victims and their families usually sue for the proceeds. Other than that, it's fair game for the author.

 

blakeatwork

Diamond Member
Jul 18, 2001
4,117
1
81
I think the way it goes is thusly:

If you are currently receiving money from legitmate sources upon incareration, you are still allowed to receive those funds, less any legal expenses and fines imposed by the judge.

Anything that nets you profit while in prison, is disallowed, as far as I know.. I think the government seizes the proceeds, and disburses them.. I think..
 

GasX

Lifer
Feb 8, 2001
29,033
6
81
Originally posted by: blakeatworkAnything that nets you profit while in prison, is disallowed, as far as I know.. I think the government seizes the proceeds, and disburses them.. I think..
Methinks this is a gross violation of consitutional rights...

 

CPA

Elite Member
Nov 19, 2001
30,322
4
0
Originally posted by: zimu
wow imagine that.

make your money, have absolutely nothing to do- have all the free time in the world to write a book, free rent, free food, free sex, no groceries.. what else would a guy want? ;)

ok, they just need wireless internet and cable t.v. and hell i'll go kill a guy to get into jail!
when I worked at a prison about 9 years ago they had satellite TV. They could point it at 13 different satellites and practically get any station they wanted.
 

rahvin

Elite Member
Oct 10, 1999
8,475
1
0
Originally posted by: Mwilding
Originally posted by: blakeatworkAnything that nets you profit while in prison, is disallowed, as far as I know.. I think the government seizes the proceeds, and disburses them.. I think..
Methinks this is a gross violation of consitutional rights...
And doesn't occur. The only money you can't earn is that most states have enacted laws that you cannot profit from your crime. Ie. writting a book about the horrible things you did, in that case the proceeds are usually siezed by the state and given to the vicitims. Any other money you make while in prison is yours. Prisoners are actually paid for labor they do (at about .50cents an hour).
 

CPA

Elite Member
Nov 19, 2001
30,322
4
0
Originally posted by: MustISO
For people like Martha Stewart or say a CEO of a company? If the company or empire is still bringing in income, what happens to it? In the case of a CEO, I would imagine they just wouldn't get paid during the sentence but what about for Martha where money is coming in from all kinds of things.
I'm not sure you are asking the question correctly. Just because she is the CEO doesn't mean that she receives the company's income. A corporation is a seperate legal entity, no one person "controls" it. Instead, stockholders control it, as they decide on the BoDs, who then name the CEO. The Board will just fire her and she will only receive anything that is contractually obligated to her, but she will most likely not continue to earn any type of salary.

I also heard this morning that the company plans on changing the names of all of the Martha Stewart lines, including her clothing line and magazine. This is an excellent example of how a corporation is bigger than the person who founded it.
 

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