A breakdown of charges against Martha Stewart (search) and stockbroker Peter Bacanovic (search) in a 41-page federal indictment filed Wednesday. If convicted, both are likely to get far lighter penalties than the maximum under federal sentencing guidelines.

Count One: Conspiracy

— Filed against: Stewart and Bacanovic.

— Charge: Alleges that Stewart and Bacanovic "willfully and knowingly" worked together to obstruct justice and make false statements in the stock-trading scandal.

— Maximum penalty: Five years in prison, $250,000 fine for each.

Count Two: False Statements

— Filed against: Bacanovic.

— Charge: Alleges Bacanovic lied when he told regulators he had had a conversation with Stewart in which she decided to sell ImClone when it reached $60 per share. Also alleges he lied about a Dec. 27, 2001, conversation in which he told Stewart the stock price had dropped.

— Maximum penalty: Five years in prison, $250,000 fine.

Count Three: False Statements

— Filed against: Stewart.

— Charge: Alleges, among other things, that Stewart lied when she told the Securities and Exchange Commission, FBI and federal prosecutors that she had pre-arranged with Bacanovic to sell ImClone when it fell below $60 per share.

— Maximum penalty: Five years in prison, $250,000 fine.

Count Four: False Statements

— Filed against: Stewart.

— Charge: Alleges, among other things, that Stewart lied when she told the SEC, FBI and prosecutors that she did not recall being told on Dec. 27, 2001, that the Waksal family was selling ImClone stock.

— Maximum penalty: Five years in prison, $250,000 fine.

Count Five: Making and Using False Documents 

— Filed against: Bacanovic.

— Charge: Alleges Bacanovic altered a worksheet of Stewart's portfolio to make it appear he and Stewart had pre-arranged to sell ImClone when it fell below $60.

— Maximum penalty: Five years in prison, $250,000 fine.

Count Six: Perjury 

— Filed against: Bacanovic.

— Charge: Alleges Bacanovic lied repeatedly in a Feb. 13, 2002, interview with SEC investigators, particularly about his conversations with Stewart in the weeks surrounding her sale of ImClone stock.

— Maximum penalty: Five years in prison, $250,000 fine.

Count Seven: Obstruction of Justice 

— Filed against: Bacanovic.

— Charge: Alleges that, from January to April 2002, Bacanovic "willfully and knowingly" tried to hamper the SEC investigation of Stewart's stock sale.

— Maximum penalty: Five years in prison, $250,000 fine.

Count Eight: Obstruction of Justice 

— Filed against: Stewart.

— Charge: Alleges that, from January to April 2002, Stewart "willfully and knowingly" tried to hamper the SEC investigation of her stock sale by providing misleading information.

— Maximum penalty: Five years in prison, $250,000 fine.

Count Nine: Securities Fraud

— Filed against: Stewart.

— Charge: Alleges Stewart "well knew" that her personal reputation was critical to shareholders in her own company, Martha Stewart Living Omnimedia. Alleges she made misleading public statements in June 2002, after news of her ImClone sale broke, that she intended to "defraud and deceive" her investors.

— Maximum penalty: Ten years in prison, $1 million fine.