WANTED By the US Marshals....

Mr. James K Happ
I wonder if there were people involved in her disappearance deeper than what was exposed in the court. I guess they couldn’t find her dead in bed like they did Ken Lay, remember him, Mr. Enron!

Good thing she disappeared prior to the one and only executive to be acquitted in the last trial of this six year case, Mr. James K Happ. Prior to the arrival at National Century Financial Enterprises (NCFE), the ex-CFO of Columbia Homecare Group, Inc. was the only acquittal and the last executive to stand trial, December 2008. Mr. James K Happ

National Century figure is featured fugitive
Thursday, January 8, 2009 10:06 PM
BY TIM DOULIN
THE COLUMBUS DISPATCH

WANTED By the US Marshals
http://www.rebeccaparrett.com/
Case Synopsis:
From 1995 to 2002, PARRETT and eight others participated in a large-scale fraud involving investments in accounts receivables owed to healthcare providers. PARRETT and her co-conspirators owned and operated National Century Financial Enterprises (NCFE), which purchased accounts receivable or money owed to healthcare providers by government and private insurance companies. This allowed the healthcare providers cash up-front in lieu of waiting for payments from the insurance companies. NCFE raised the funds to provide to the healthcare providers by selling asset-backed bonds or notes to investors, such as financial institutions, pension funds, and investment firms. These notes were offered through NCFE's subsidiaries, including NPF VI, Inc. and NPF XII, Inc. Investors were promised that these high-quality accounts receivables were actually purchased and owned by NPF VI, Inc. and NPF XII, Inc. and served as collateral. Instead of using investors’ money as promised to purchase accounts receivable from its healthcare provider clients, and for other authorized expenses, PARRETT and others, defrauded investors and enriched themselves. PARRETT provided money to certain healthcare providers far in excess of the value of their accounts receivable, thus providing unsecured loans to less than creditworthy borrowers, many of whom were entities in which PARRETT directly or indirectly maintained an ownership interest. As a result, these healthcare provider clients owed NCFE tens, and even hundreds, of millions of dollars, which created growing shortfalls in NPF VI and NPF XII. PARRETT concealed from investors these unsecured advances and the resulting shortfalls by making false statements to investors, fabricating financial data provided to investors, double counting funds in NPF VI and NPF XII by transferring money between the two programs on different days, and loading false data onto the accounts receivable system. In November 2002, unable to continue this fraud, NCFE filed for bankruptcy protection, while NPF VI and NPF XII owed bondholders approximately $840 million and $2 billion, respectively, amounts far outweighing the value of the accounts receivable and all other collateral held by NCFE or their healthcare provider clients. The total amount of proceeds earned from the fraud is approximately USD 1.772 billion, of which, USD 7.6 million went directly to PARRETT. On 13 March 2008, in the District Court, Southern District of Ohio, PARRETT was found guilty by a jury of conspiracy to commit fraud, six counts of securities fraud, wire fraud, and money laundering conspiracy, but fled before she could be sentenced, resulting in the issuance of a warrant for her arrest on 28 March 2008.

Before ENRON, before the Mortgage Fraud, what about the Healthcare Finance Fraud?

JULY 10, 2007
FOR IMMEDIATE RELEASE
http://www.usdoj.gov/usao/ohsn
SUPERSEDING INDICTMENT CHARGES FORMER EXECUTIVES OF HEALTH CARE FINANCING COMPANY WITH CONSPIRACY, FRAUD, MONEY LAUNDERING
"...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 ..." before FBI raided the office in Dublin, Oh.

“This case is one of the largest corporate fraud investigations involving a privately held company headquartered in small town America,” said Assistant Director Kenneth W. Kaiser of the FBI Criminal Investigative Division.

JPMORGAN CHASE and CITI PAID GOVERNMENT SETTLED AGREEMENTS FOR FRAUD in National Century Financial Enterprises, Inc. (NCFE), the “LARGEST ‘PRIVATE’ FINANACIAL FRAUD CASE “in our nation's history

February 3, 2008- THE COLUMBUS DISPATCH
By the numbers
All defendants, except for James K Happ, were initially indicted in May, 2006. United States District Judge Algenon L. Marbley will preside over the case which is scheduled for trial on November 5, 2007. National Century Financial Enterprises (NCFE)

Friday, February 8, 2008- Business First of Columbus - Business First
Poulsen isn't the only National Century executive scheduled for a trial apart from the five now in court. James Happ is scheduled for trial in October because "he wasn't charged in connection with the company's failure until last May."

"All defendants, except for Happ...?"

At trial, the government presented evidence that the defendants engaged in a scheme to deceive investors and rating agencies about the financial health of NCFE and how investor monies would be used between May 1998 and May 2001.
Note: May 1998 James K Happ was the chief financial officer of the Dallas-based Columbia Homecare Group, Inc. and used NCFE to finance his divestiture of Columbia Homecare Group’s losing assets, homecare. . , "All defendants, except for Happ...?"

Mr. Happ, 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 directed the company through the challenging reimbursement climate, … and participated in the divestiture of all of Columbia/HCA's home care operations.

1998-1999 Who financed this divestiture? NCFE- National Century Financial Enterprises.
Where did James K Happ divest the losing assets of Columbia Homecare Group, Inc? One man owned company, Medshares, Inc. in Memphis, TN. A ‘private’ company financed by a ‘private’ financial institution, NCFE.

In July 1999, Medshares, Inc. filed the LARGEST Bankruptcy case in the history of Western Tennessee's bankruptcy court held all of the Dallas-based Columbia Homecare Group, Inc.’s home care units . All entities filed with the court were financed by NCFE. In this courtroom, documents reveal the uproar from scores of lawyers crying fraud in the bankruptcy court and the BANKRUPTCY JUDGE scolded the attorneys and forbade the ‘F’ word in her court. (NO FRAUD)

February 21, 2008 - Associated Press
COLUMBUS, Ohio (AP) - A guilty executive told jurors she told investors "absolutely nothing" about National Century's practices of advancing cash to Memphis, Tenn.-based Medshares, a home-health care provider.

DECEMBER 2008- National Century fraud case produces 1st acquittal
Thursday, December 18, 2008 3:29 AM Prosecutors' case fell short, juror says
By Jodi Andes THE COLUMBUS DISPATCH
The "not guilty" verdicts that came in federal court yesterday were not so much a vindication of the last National Century Financial Enterprises executive to stand trial, a juror said.
Instead, they were more a belief that federal prosecutors had not done their job, the juror said after he
and his fellow jurors acquitted James K. Happ of five counts after 12 hours of deliberation. "He very well may have been guilty. A lot of us thought he was," said the juror who wouldn't give his name. "But if he was, you gotta have the evidence."

James K Happ was the chief financial officer of the Dallas-based Columbia Homecare Group, Inc. prior to arriving at NCFE and the ONLY executive of NCFE ACQUITTED.