Thursday, March 22, 2007
David A. Stockman, President Reagan's Budget Director, reportedly will be charged with accounting fraud in connection with his tenure as Chair of Collins & Aikman, an auto parts manufacturer., shortly before it declared bankruptcy in 2005. The charges relate to inflating revenues from rebate programs and other accounting irregularities. His attorneys called the possibility of indictment a "miscarriage of justice" and blamed Sarbanes-Oxley. See NYTimes, Ex-Chief of Collins & Aikman Is Said to Be Facing Indictment ; WSJ, Stockman May Take Another Hit.