Ex-GM Executive Testifies At Waxman Trial

An article today by the Hamilton Spectator shines light on the trial of standardbred horse owner Bob Waxman, who is facing charges from alleged fraud and theft in the mid-to-late 1990s

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The report states that Waxman is facing five charges of fraud and two of theft amounting to $28 million. He is accused of orchestrating a series of copper trades in 1996 and 1997 that lined his pockets at the expense of Philip Services. The total value of the missing metal has been set at $20.2 million (U.S). Waxman has pleaded has pleaded not guilty to all the charges.

Ivan Herring, a retired executive from General Motors, told the court that he had an ongoing dialogue with Waxman regarding the whereabouts of $16 million worth of GM-owned copper had gone. "He (Waxman) owed me stuff and I wanted it," the Hamilton Spectator quoted Herring as saying.

To read the article in its entirety, click here.

(With files from the Hamilton Spectator)

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