Monday, November 3, 2008

Former CEO National Century Financial Enterprises Convicted Again

A DOJ Press Release reports that "Lance K. Poulsen, former president, owner and chief executive officer of National Century Financial Enterprises (NCFE)" was convicted "of conspiracy, fraud and money laundering." Poulsen had been convicted of "conspiracy, witness tampering and obstruction on March 26, 2008, and [he] was sentenced to ten years in prison on those charges." (see here) The DOJ Press Release states that "[t]he charges stemmed from a scheme to deceive investors about the financial health of NCFE that cost investors more than $2 billion. The company, which was based in Dublin, Ohio, was one of the largest healthcare finance companies in the United States until it filed for bankruptcy in November 2002."

(esp)

http://lawprofessors.typepad.com/whitecollarcrime_blog/2008/11/former-ceo-nati.html

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