Ray Donovan's Salvation
(FORTUNE Magazine) – When New York State charged U.S. Labor Secretary Raymond J. Donovan and his associates in the Schiavone Construction Co. with conspiring to cheat the New York City Transit Authority out of millions on a subway tunnel project, he became the first sitting Cabinet member to be indicted (FORTUNE, October 29, 1984). In March 1985, Donovan resigned his post, and last month a Bronx, New York, jury acquitted him and the others of all charges of fraud and grand larceny. During seven months of testimony, the prosecution presented 40 witnesses and 558 exhibits. The defense called no witnesses, contending that the prosecutor created a phony case to gain publicity. Donovan, 59, a former Roman Catholic seminarian, says his mother knew what she was doing when she named him after St. Raymond Nonnatus, patron saint of the falsely accused. |
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