Prosecutors have compared the Dublin-based company's collapse to Enron and Worldcom

National Century Founder, Executive Sentenced

Prosecutors have compared the Dublin-based company's collapse to Enron and Worldcom.
By WTVN Newsroom
Wednesday, August 6, 2008

A federal judge on Wednesday sentenced two former executives of Dublin-based National Century Financial Enterprises for their roles in the massive fraud case.

Founder Donald Ayers, 72, who must also repay billions of dollars to investors and co-defendents, faced up to 55 years for his role in the $1.9 billion fraud that brought down the health care financing firm.

U.S. District Judge Algenon Marbley sentenced Ayers to 15 years.A jury convicted Ayers of conspiracy to commit securities or wire fraud, six counts of securities fraud and conspiracy to commit money laundering in March.

Marbley said the 12-year prison term for 52-year-old Randolph Speer was enough to punish Speer and deter others from committing similar crimes. Marbley also ruled that Speer must repay billions of dollars to investors along with his co-defendants.

They are the first of six defendants to be sentenced.

Roger Faulkenberry and James Dierker Jr. are scheduled to appear before the judge on Thursday.

Former CEO Lance Poulsen and his friend, Karl Demmler, are set for sentencing on Friday. They were convicted of obstructing justice in trying to get a witness to fake amnesia.



The Associated Press contributed to this story
Copyright © 2003-2008 Clear Channel. All rights reserved.