High Profile Budget Director Indicted

A one-time Michiana resident, who was once Ronald Reagan’s budget director, has been indicted for fraud.

St. Joseph native David Stockman, and four other executives of a troubled auto parts supplier, was charged today.

Federal prosecutors say Stockman and his co-defendants resorted to quote: "lies, tricks and fraud" to hide the fact the company was failing.

The company, Collins and Aikman, collapsed into bankruptcy Stockman denies any wrongdoing.

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