Stockman Charged
This article is from the archive of The New York Sun before the launch of its new website in 2022. The Sun has neither altered nor updated such articles but will seek to correct any errors, mis-categorizations or other problems introduced during transfer.
NEW YORK (AP) – David Stockman, a former top budget official in the Reagan White House, was charged with securities fraud after a probe that focused on possible financial fraud at an auto parts company he headed before it collapsed into bankruptcy, Mr. Stockman’s lawyer said Monday.
Mr. Stockman was the former chairman and CEO of Michigan-based Collins & Aikman Corp., which makes auto parts. He served as budget director under President Reagan.
Mr. Stockman’s attorney, Elkan Abramowitz, said Mr. Stockman was charged with securities fraud and other related charges. He said he would make a further statement later in the day.
A spokesman for Collins & Aikman did not immediately return a telephone message for comment.
Federal prosecutors said they would conduct a noon news conference regarding the case. Federal authorities declined to comment prior to the conference.
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On the Net:
http://www.collinsaikman.com
http://www.maglaw.com
http://www.ca2.uscourts.gov/
http://www.usdoj.gov/usao/nys
