Trial to begin for Ohio exec in $1.9 billion fraud case
A case LARGER than ENRON and this is the coverage for the CEO's upcoming trial.
Associated Press - October 1, 2008 1:33 AM ET
COLUMBUS, Ohio (AP) - Jury selection is scheduled to start Wednesday in the corporate fraud trial of the founder of National Century Financial Enterprises.
Federal prosecutors allege that 65-year-old Lance Poulsen fabricated company data, mislead investors and covered up shortfalls by moving money between accounts.
National Century is a health care financing company that was based in suburban Columbus, Ohio.
Poulsen has pleaded innocent.
The trial is expected to cover much of the same ground as a similar trial in March. That jury convicted 5 of Poulsen's co-defendants of multiple charges of fraud and money laundering in the $1.9 billion case.
Poulsen has already been convicted and sentenced to 10 years in prison on charges of trying to bribe a witness scheduled to testify at his trial.
Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment