lawyer says ex-Reagan official charged |
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Published
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Mon, 26 Mar 2007 16:33
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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, Stockman's lawyer said Monday.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.Stockman's attorney, Elkan Abramowitz, said 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.Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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13 accused in securities fraud case 