by Deb Cupples | The Justice Department tells us:
"Two former National Century Financial Enterprises (NCFE) executives
were sentenced today for their roles in a scheme to deceive investors
about the financial health of NCFE.... NCFE, formerly based in Dublin, Ohio, was one of the largest health care
finance companies in the United States until it filed for bankruptcy in
November 2002."
Ex-NCFE president
Lance Poulsen (age 65) got 30 years in prison and three years supervision after he serves. Ex-director and officer
Rebecca Parrett (age 60) got 25 years in prison. The two were also ordered to forfeit $1.7 billion in property and to pay restitution of $2.3 billion.
Perhaps this will give government officials some ideas re: the handling of perpetrators of the massive financial frauds that led to the massive meltdown of our nation's financial system.
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