Lawyer: David Stockman charged with securities fraud

By LARRY NEUMEISTER
Associated Press

NEW YORK — David Stockman, a former top budget official in the Reagan White House, and three others were charged today in an alleged securities fraud conspiracy that embroiled one of North America's largest auto parts companies before the supplier collapsed into bankruptcy.

Stockman was the former chairman and CEO of Michigan-based Collins & Aikman Corp. He had previously served as budget director under President Reagan in the 1980s and had been a former Republican congressman.