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Four Former National Century Financial Enterprises Executives Sentenced

By Douglas A. Berman

National Century Financial Enterprises (NCFE), based in Dublin, Ohio, was one of the largest healthcare finance companies in the United States until it filed for bankruptcy in November 2002. According to press reports, investors were bilked out of approximately $2.9 billion through a scheme by its top executives, who were convicted by a jury in March on charges of conspiracy, securities and wire fraud, and money laundering. According to a Marketwatch article, the following former NCFE executives were sentenced this week for their roles in deceiving investors as to the financial health of NCFE: Donald H. Ayers, 72, of Fort Myers, Fla., NCFE vice chairman, chief operating officer, director and owner of the company, was sentenced on Aug. 6, 2008, to 15 years' imprisonment...continue to full post

Full post as published by Sentencing Law and Policy on August 08, 2008 (boomark / email).