JP MORGAN CHASE & CO., Med Diversified,NCFE and James K Happ

The following is an excerpt from a 10-Q SEC Filing, filed by MED DIVERSIFIED INC on 2/19/2003


LANCE POULSEN, HAL POTE, NPF VI, NPF XII, BANK ONE, JP MORGAN CHASE & CO.



In November 2002, we filed a complaint, along with our subsidiary Chartwell
Diversified Services, Inc. and OrthoRehab, Inc. ("OrthoRehab"), against two
principals of NCFE, Lance K. Poulsen ("Poulsen") and Hal Pote ("Pote"), two
legal designees of NCFE, NPF VI, Inc., NPF XII, Inc., and two banking
organizations, Bank One NA, Trustee ("Bank One"), and JP Morgan Chase & Co.,
Trustee ("JP Morgan") (Med Diversified, Inc.; Chartwell Diversified Services,
Inc.; and OrthoRehab, Inc. v. Lance K. Poulsen; Hal Pote; NPF VI, Inc.; NPF XII,
Inc.; Bank One NA, Trustee and JP Morgan Chase & Co., Trustee, U.S. District
Court District of Massachusetts, Civil Action No. 02-12214 NG). We contend that
Poulsen and Pote made false representations to us about NCFE's ability to fund
us, as well as NCFE's financial condition. In reliance, we entered into
contractual relationships for financing with NCFE and its affiliates. We believe
that NCFE's liquidity problems and the nature of the "ponzi scheme" which NCFE
engaged, was known for some time prior to NCFE's breach of the Sales and
Subservicing Agreements by certain of its principals and independent board
members. Had we known, we would not have continued these financing arrangements
and would have searched for alternate financing. Because of NCFE's eventual
financing difficulties, we were harmed as a result. We also contend that at the
time Poulsen and Pote assured us that NCFE would provide funding to us, they
were conspiring to conceal from us the true status of NCFE's business and
financial condition.


Further, we contend that Poulsen and Pote demanded that NPF VI and NPF XII
withhold funding, completely depriving us of all necessary monies from which we
operate our business. We also believe that Bank One and JP Morgan caused NPF VI
and NPF XII to withhold funds, which were guaranteed under contractual
agreements. We also contend that NPF VI and NPF XII breached their contracts
with Chartwell and OrthoRehab in refusing to honor their funding commitments.


We seek monetary damages to be proven at trial. As NCFE is in bankruptcy
(meaning actions against it are subject to an automatic stay), we are
investigating our alternatives in pursuing this litigation against all named
defendants.



TLCS LITIGATION




PRIVATE INVESTMENT BANK LIMITED




FOR IMMEDIATE RELEASE
TUESDAY, JULY 10, 2007
http://www.usdoj.gov/usao/ohs
CONTACT: Fred Alverson
614-469-5715
FAX: (614) 469-5503

SUPERSEDING INDICTMENT CHARGES FORMER EXECUTIVES OF HEALTH CARE FINANCING COMPANY WITH CONSPIRACY, FRAUD, MONEY LAUNDERING
COLUMBUS – A federal grand jury here today returned a superseding indictment charging eight former executives of National Century Financial Enterprises (NCFE) with conspiring to defraud investors by diverting millions of dollars in investors’ funds, fabricating data in investor reports, and moving money back and forth between accounts in order to conceal investor fund shortfalls. 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.
Currently, there are two people that have yet to go on trial in the NCFE, 'larger than Enron' case: the CEO, scheduled this coming week October 6, 2008; but most interesting is the last, ex-Executive, James K Happ. Why last? The ex-executive will go last, after everyone else involved has been sentenced, one of which has already completed her sentence and is now free. I wonder why?

This ex-executive, James K Happ, was a prior employee of Richard Rainwater, GW Bush’s ex-partner. James K Happ left Columbia/HCA and went to work to NCFE. I wonder why?

SEPTEMBER 9, 2003
Source: ANNUAL MEETING OF STOCKHOLDERS-SEPTEMBER 9, 2003-Med Diversified Inc.
JAMES K. HAPP has served as chief executive officer of our subsidiary,
Tender Loving Care Health Care Services, Inc., since October 2002.
Previously, Mr. Happ served for three years as executive vice president of NCFE,
during which time he restructured the servicer department to improve operational
Performance and accelerated the utilization of technology to increase operational
efficiency. Mr. Happ also served as chief financial officer of the
Dallas-based Columbia Homecare Group, Inc., a home care company with more than 500 locations nationwide and more than $1 billion in revenue in 1997.

In this role, he directed the company through the challenging reimbursement climate, known as the interim payment system, and participated in the divestiture of all of Columbia/HCA's home care operations. (All of which are in the Bankruptcy case in Tennessee) Who owned Columbia Homecare Group, Inc.?