Sentencing set for Ohio CEO in $1.9B fraud case
Associated Press - March 11, 2009 12:13 PM ET
COLUMBUS, Ohio (AP) - The former chief executive of a failed health care financing company will learn his sentence later this month in a $1.9 billion fraud case.
U.S. District Court Judge Algenon Marbley will sentence 65-year-old Lance Poulsen on March 27 in Columbus.
Marbley set the date in a court filing Wednesday.
Poulsen was convicted in October on 12 counts of securities fraud, wire fraud and money laundering.
Prosecutors likened the fraud uncovered at National Century Financial Enterprises in suburban Columbus to the Enron or WorldCom scandals.
Poulsen faces up to 135 years in prison, though his actual sentence will likely be shorter under federal sentencing guidelines.
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