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11/03/2008
Former National Century CEO Gets Convicted
Alex Ksaid...
8/13/2008
National Century Execs Sentenced 4/03/2008
National Century Execs Planned Aruba Escape If Convicted
National Century Fraud Trial Set for Monday
Hammer Drops on National Century
Former National Century CEO Gets Convicted
Lance Poulsen... Come on Down!
For your role in defrauding your investors of $2.9 billion, you have been found guilty of fraud, conspiracy and money laundering.
Tell him what he's won Roddy!
Well, Bob, sentencing has yet to take place, but Lance is looking at up to thirty years behind bars. This is on top of the current ten year sentence he's serving after being caught trying to bribe a key witness.
-- MDT
For your role in defrauding your investors of $2.9 billion, you have been found guilty of fraud, conspiracy and money laundering.
Tell him what he's won Roddy!
Well, Bob, sentencing has yet to take place, but Lance is looking at up to thirty years behind bars. This is on top of the current ten year sentence he's serving after being caught trying to bribe a key witness.
-- MDT
Labels: guilty, Lance Poulsen, National Century
1 Comments.
Alex Ksaid...
Anything illegal gets punished, right? A proven anecdotal handed down from generation to generation: one good deed gets good karma and vice- versa.If there’s a crime, there’s imprisonment waiting or so there is. Lance Poulsen isn't going to need a cash advance loan ever again. He won't need one because Lance Poulsen is going to be in prison for the rest of his life, in all likelihood. The 65 year old was convicted of corporate fraud, and after being handed a ten year sentence several years ago, has had another 30 years tacked onto the time he already has. His associates Karl Demmler, convicted of bribery, and Rebecca Parrett have also been convicted and sentenced, although Parrett has been a fugitive for months. Parrett and Poulsen are both liable for about $3 billion in restitution. However, it will take Lance Poulsen a long time to make that in license plates.
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National Century Execs Sentenced 4/03/2008
National Century Execs Planned Aruba Escape If Convicted
Convicted they were, and with sentencing for their role in the nearly two billion dollar fraud at hand, news of their planned escape leaked out.
Consequently, National Century execs James Dierker, Roger Faulkenberry, Donald Ayers and Randolph Speer were all re-arrested and will remain behind bars, cooling their heels until their sentencing date two weeks from now.
Another National Century exec scheduled for sentencing, Rebecca Parrett, is currently in the wind. It was her failure to appear that ultimately led to the return to jail for her co-horts.
All this international intrigue sounds more like the style of former National Century CEO and man of mystery, Lance Poulsen... I guess he rubbed off a little bit on his executive team?
Poulsen's own trial starts in August if you're wondering.
-- MDT
1/30/2008
Consequently, National Century execs James Dierker, Roger Faulkenberry, Donald Ayers and Randolph Speer were all re-arrested and will remain behind bars, cooling their heels until their sentencing date two weeks from now.
Another National Century exec scheduled for sentencing, Rebecca Parrett, is currently in the wind. It was her failure to appear that ultimately led to the return to jail for her co-horts.
All this international intrigue sounds more like the style of former National Century CEO and man of mystery, Lance Poulsen... I guess he rubbed off a little bit on his executive team?
Poulsen's own trial starts in August if you're wondering.
-- MDT
Labels: Flee, Lance Poulsen, National Century, Rebecca Parrett
National Century Fraud Trial Set for Monday
Call it the sleeper corporate fraud...
National Century Financial Enterprises never got the publicity of a WorldCom, Health South or Enron. But there's nothing minor about the $1.5 billion fraud allegedly perpetrated by company executives prior to National Century's fall in 2002 (the firm declared bankruptcy in 2004).
Two former National Century owners and three execs go on trial Monday in Columbus, Ohio. One exception is former CEO Lance Poulsen. His fraud trial starts in August. But before then he'll have to answer to charges of witness tampering. That trial starts in March.
Here are a few more case-related stats via the AP.
-- MDT
7/12/2007
National Century Financial Enterprises never got the publicity of a WorldCom, Health South or Enron. But there's nothing minor about the $1.5 billion fraud allegedly perpetrated by company executives prior to National Century's fall in 2002 (the firm declared bankruptcy in 2004).
Two former National Century owners and three execs go on trial Monday in Columbus, Ohio. One exception is former CEO Lance Poulsen. His fraud trial starts in August. But before then he'll have to answer to charges of witness tampering. That trial starts in March.
Here are a few more case-related stats via the AP.
-- MDT
Labels: Fraud, Lance Poulsen, National Century, trial
Hammer Drops on National Century
With a new, revised indictment in play, things are looking increasingly bad for the eight former executives of National Century. Bumping up the 27 charges in the initial indictment to a round count of 60, a Columbus, Ohio grand jury things are looking increasingly dark. Before you feel too terribly bad for these folks, keep in mind that the FBI calls National Century the largest corporate fraud case involving a private company that they have ever investigated.
Further details via the Columbus Business Journal.
-- MDT
Further details via the Columbus Business Journal.
-- MDT
Labels: Fraud, National Century
