Stockman Indicted

The Indictment against David Stockman, the former Director of Management & Budget under President Ronald Reagan, was anticipated (see here) and it has now become a reality.  It relates to his alleged activities when employed at Collins & Aikman, a supplier of automobile parts. The Indictment, a 65 page document, charges as follows:

Count One- Conspiracy To Commit Securities Fraud, Make False Statements In Annual and Quarterly Reports, Make False Entries In Books And Records, Lie To Auditors, Commit Bank Fraud, Wire Fraud, and Obstruction of An Agency Proceeding

Count Two- Securities Fraud

Count Three-Securities Fraud

Count Four- Securities Fraud

Count Five - Bank Fraud

Count Six - Bank Fraud

Count Seven- Wire Fraud

Count Eight- Obstruction of Agency Proceedings

It also calls for a forfeiture of millions of dollars. The Wall Street Journal provides a preview of the defense position in this link to a statement by the defendant.

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