[5] 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 took while CEO of Collins & Aikman.

Stockman said in a statement posted on his law firm's Web site that the company's collapse was the consequence of an industry melt-down, not fraud.

[7] In August 2008, a trial date was set[8] but on January 9, 2009, the U.S. Attorney's Office announced that it did not intend to prosecute Stockman in this case.

Other investments in the Heartland portfolio included auto parts suppliers Metaldyne[9] and TriMas as well as Springs Industries,[10] a manufacturer of home furnishings.