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Politics : Stockman Scott's Political Debate Porch
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To: stockman_scott who wrote (85896)10/6/2011 11:30:50 AM
From: longnshort  Read Replies (1) of 89467
 
and a wall street crook

Criminal and civil charges On March 26, 2007, federal prosecutors in Manhattan indicted Stockman in "a scheme ... to defraud [Collins & Aikman]'s investors, banks and creditors by manipulating C&A's reported revenues and earnings." At the same time, the Securities and Exchange Commission brought civil charges against Stockman related to actions he performed while CEO of Collins & Aikman. [9] Stockman suffered a personal financial loss, estimated at $13 million, along with losses suffered by as many as 15,000 Collins & Aikman employees worldwide. Stockman said in a statement posted on his law company's website that the company's end was the consequence of an industry decline, not fraud. [10] On January 9, 2009, the U.S. Attorney's Office announced that it did not intend to prosecute Stockman for this case.
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