Martha Stewart says jail time cost $1bn

Martha Stewart has estimated that she lost more than $1bn (£597m) while she was jailed for lying to the police.

The celebrity lifestyle guru spent five months behind bars in 2004 after being dishonest to federal agents investigating her share dealings. She was convicted of obstructing justice.

During an interview with Nightline, due to air tonight, Stewart said that she had lost "probably more than a billion dollars".

The US personality, who was refused entry to Britain earlier this year because of the conviction, stated that the money could have been better spent.

"When you are prosecuted in such a way, and a great portion of wealth is dissipated, all I can think so much is what I could have done with all that, and for the good of mankind, and I hope I can continue," she said.

Stewart added that she is now looking to put the incident behind her, saying: "How can I kick myself? There are other people to be kicked. Let's get on with the future."