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Politics
Ex-budget director under scrutiny
By ASSOCIATED PRESS
Published March 21, 2007
WASHINGTON - Federal prosecutors are preparing to unveil criminal charges against former White House budget director David Stockman for incomplete disclosures and improper accounting practices he allegedly endorsed while at the helm of a Michigan auto parts company, the Washington Post reported, citing sources familiar with the two-year investigation. Stockman, 60, led the Office of Management and Budget under President Ronald Reagan. A grand jury indictment sought by the office of U.S. Attorney Michael Garcia in Manhattan and officials at the U.S. Postal Inspection Service could be revealed as early as Monday, said the sources, who spoke on condition of anonymity because the investigation continues, the Post said. The sources said the Securities and Exchange Commission is preparing to announce a simultaneous enforcement action. The SEC has been examining the records of Collins & Aikman, the bankrupt Southfield, Mich., auto parts business that Stockman led as chairman and later chief executive from 2002 to 2005. The company filed for bankruptcy protection days after Stockman was ousted for allegedly failing to inform board members about its mounting financial woes.
[Last modified March 21, 2007, 02:17:00]
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by Gail
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03/21/07 09:25 AM
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Thanks for doing the right thing and investagating Mr. Stockman, although it won't bring the many jobs, that we all lost, it is comforting to know maybe justice will prevail. I was one of many, who had twenty plus years with C&A.
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