Wednesday, March 5, 2008
IT expert: National Century computer system unreliable
Business First of Columbus - by Kevin Kemper Business First
Important information on a National Century Financial Enterprises Inc. computer system was either lost or tampered with, a computer expert testified for the defense, however the government did its best to call the witness's testimony into question.
Jon Bryant, an information technology computer consultant that used to work at National Century, told jury members on Tuesday and Wednesday that the AS/400 mainframe computer used by National Century to track accounts receivable was missing information after a crash that left nine of its hard drives inoperable.
The crash occurred, Bryant said, sometime after he stopped working for National Century in 2001, possibly when the government gained control of the system during its investigation.
Defense attorneys hired Bryant as an expert witness in 2007 to conduct an analysis of the information contained on National Century's AS/400 system. When Bryant conducted his analysis, he found that there was $300 million in accounts receivable missing from the system due to the crash.
The government has used information from the AS/400 to allege to the jury that millions of dollars went missing from the National Century's accounts.
Dublin-based National Century was a financier of last resort for health-care providers. The firm specialized in buying receivables from medical businesses at a discount, giving them cash up front so they could pay their bills. It then packaged the receivables as asset-backed bonds and sold them to investors.
Five of the company's former executives - Rebecca Parrett, Donald Ayers, Roger Faulkenberry, Randolph Speer and James Dierker - are facing charges of fraud, conspiracy and money laundering for their alleged involvement in National Century's nearly $3 billion collapse and bankruptcy in 2002.
They have all pleaded not guilty to the charges.
When the government got its chance to cross-examine Bryant, Assistant U.S. Attorney Douglas Squires did his best to call Bryant's word into question.
Squires first attempted to show that Bryant was not an information technology expert.
Squires asked Bryant about memos that circulated among National Century executives that suggested computer programs Bryant wrote did not work properly.
Bryant said he was not familiar with those memos.
Squires then asked Bryant about his relationship with Parrett. When Bryant admitted the two are friends, Squires suggested Bryant might lie for her. Bryant said he would not.
Squires also asked Bryant about statements Bryant made to the FBI in 2002. Bryant admitted he told the FBI that the company tried to deceive auditors and that funds were moved among accounts to hide shortfalls.
Squires also suggested that Bryant was disgruntled when he worked for National Century and that he volunteered to be a government witness in the case.
Bryant said neither was true.
Defense attorneys called their third witness after Bryant, a securitizations expert named Gregory Gac.
Gac, owner of Shorewood, Minn.-based Quadrant Financial Group LLC, was hired by the defense at a rate of $450 an hour to analyze the documents that governed National Century's bond funds.
The government has alleged that because the defendants allowed reserve funds for National Century bonds to be depleted, they had committed securities fraud. But Gac said National Century's bond reserve funds were allowed to fluctuate.
Under cross-examination, he admitted that he had sat in on earlier testimony in the trial when the government's star witness said she was behind a massive and ongoing fraud at the company. Gac said he found her testimony, "appalling," and that her behavior gives everyone in the finance industry a black eye.
The defense also called two character witnesses on behalf of Dierker, in advance of his expected testimony on Thursday. Barry Salmons, a friend and vice president of marketing at Huntington National Bank, testified that Dierker was a man of character, integrity and honesty. Susan Horn, a former executive vice president of marketing at Victoria's Secret, said that when Dierker worked for her, he was an outstanding employee with great morals and if she heard him testify she would believe what he said.
Wednesday, January 7, 2009
Saturday, January 3, 2009
Ask, "What Healthcare companies"? Maybe HCA & IHS ?
"National Century had overfunded certain health-care providers by $50 million to $200 million."
Ask, "What Healthcare companies"? Maybe HCA & IHS ? The two largest healthcare companies in our nation in 1996.
Ooops...1997 HealthCare Reform passed! Had to get rid of the industry known losing entities of thesse giants, Homehealth care.
Take a look at DIP Financing Tool that was used in the largest case in the history of Western Tennessee Bankruptcy Court. In that case, one would view the "Queen of Bankruptcy", Darla Moore and her bankruptcy tool, DIP FInance at its best.
This case would ultimatley benefit her husband's losing assets Columbia Homecare Group financed by NCFE.
Rainwater's aka HCA/TN aka Columbia Homecare Group was dumped into a private company financed by the largest private finance company.
Both of which aer no longer in existence.
But once again, the case in Tennessee was also 'unheard of' just like NCFE.
of HCA/TN,,Columbia Homecare Group---(Ricard Rainwater's Baby)
National Century was once the nation’s largest financier of physician practices and other health-care firms. It specialized in buying doctors’ receivables at discounts so the physicians could quickly secure they cash they needed for their businesses
Thursday, October 2, 2008
NCFE money exec put little stock in Poulsen, company claimsBusiness First of Columbus - by Kevin Kemper
After less than three months on the job, a former National Century Financial Enterprises Inc. executive wrote in his notes that he couldn’t trust statements made by his boss, CEO Lance Poulsen.
William Parizek, once the Dublin company’s director of corporate finance, testified Thursday as the government’s first witness in the fraud trial of Poulsen that he began to question financial decisions of National Century just weeks into his job at the business.
An accountant by training, Parizek started at National Century on Oct. 31, 1996 and left Jan. 16, 1997. Parizek testified Poulsen, who co-founded National Century, hired him to raise capital from investors who were interested in becoming part-owners of the company.
The government has accused Poulsen, 65, on conspiracy, wire fraud, money laundering and securities fraud charges for which he is standing trial in Columbus. Poulsen has pleaded not guilty to all the charges.
Parizek said he moved his family from Wichita, Kan., to join National Century because he had a chance to eventually make nearly $1 million a year if he met all of his job goals.
In order to pitch National Century to investors, Parizek testified he needed a full understanding of the company. A few weeks into his financial education, Parizek told jurors he discovered National Century had overfunded certain health-care providers by $50 million to $200 million.
National Century was once the nation’s largest financier of physician practices and other health-care firms. It specialized in buying doctors’ receivables at discounts so the physicians could quickly secure they cash they needed for their businesses. National Century then packaged the receivables as asset-backed bonds and sold them to investors.
The company collapsed into bankruptcy in 2002, allegedly forcing other medical businesses to fail and prompting the Justice Department to begin looking into the company’s failure. The government has alleged Poulsen and other executives at the company overfunded health-care companies owned by Poulsen and National Century’s other principles in a ploy to enrich themselves.
As Parizek asked more executives about the company, he became convinced the company was not operating legally, he told the jury. It was around that time that Parizek wrote in his notes: “Attribute no value to LKP (Lance K. Poulsen) statements.”
Parizek also wrote: “Attribute little value to internally generated documentation and data.”
On the day he resigned, more than two months after he joined the business, Parizek said Poulsen called him on his office phone. Poulsen started off friendly, Parizek told the jury, and then became angry and vulgar.
In his notes, Parizek wrote that Poulsen said: “I don’t know what your agenda is, but the only ... agenda in this company is mine.” Parizek also wrote in his notes that Poulsen said he didn’t need Parizek’s morality.
Under questioning by William Terpening, Poulsen’s attorney, Parizek sparred over whether he was fired or resigned from his job. Parizek maintained he resigned.
“You were fired by Mr. Poulsen,” Terpening said.
“That was not the case,” Parizek replied.
When Terpening asked Parizek about many of National Century’s financial inner workings, the witness said he couldn’t recall details. Terpening asked why Parizek’s detailed notes should then be considered accurate.
Terpening also asked why Parizek didn’t go to the government if he was concerned about National Century. Parizek answered he wanted to move on and didn’t think about National Century until the government contacted him in 2002 after the company went bankrupt.
Ask, "What Healthcare companies"? Maybe HCA & IHS ? The two largest healthcare companies in our nation in 1996.
Ooops...1997 HealthCare Reform passed! Had to get rid of the industry known losing entities of thesse giants, Homehealth care.
Take a look at DIP Financing Tool that was used in the largest case in the history of Western Tennessee Bankruptcy Court. In that case, one would view the "Queen of Bankruptcy", Darla Moore and her bankruptcy tool, DIP FInance at its best.
This case would ultimatley benefit her husband's losing assets Columbia Homecare Group financed by NCFE.
Rainwater's aka HCA/TN aka Columbia Homecare Group was dumped into a private company financed by the largest private finance company.
Both of which aer no longer in existence.
But once again, the case in Tennessee was also 'unheard of' just like NCFE.
of HCA/TN,,Columbia Homecare Group---(Ricard Rainwater's Baby)
National Century was once the nation’s largest financier of physician practices and other health-care firms. It specialized in buying doctors’ receivables at discounts so the physicians could quickly secure they cash they needed for their businesses
Thursday, October 2, 2008
NCFE money exec put little stock in Poulsen, company claimsBusiness First of Columbus - by Kevin Kemper
After less than three months on the job, a former National Century Financial Enterprises Inc. executive wrote in his notes that he couldn’t trust statements made by his boss, CEO Lance Poulsen.
William Parizek, once the Dublin company’s director of corporate finance, testified Thursday as the government’s first witness in the fraud trial of Poulsen that he began to question financial decisions of National Century just weeks into his job at the business.
An accountant by training, Parizek started at National Century on Oct. 31, 1996 and left Jan. 16, 1997. Parizek testified Poulsen, who co-founded National Century, hired him to raise capital from investors who were interested in becoming part-owners of the company.
The government has accused Poulsen, 65, on conspiracy, wire fraud, money laundering and securities fraud charges for which he is standing trial in Columbus. Poulsen has pleaded not guilty to all the charges.
Parizek said he moved his family from Wichita, Kan., to join National Century because he had a chance to eventually make nearly $1 million a year if he met all of his job goals.
In order to pitch National Century to investors, Parizek testified he needed a full understanding of the company. A few weeks into his financial education, Parizek told jurors he discovered National Century had overfunded certain health-care providers by $50 million to $200 million.
National Century was once the nation’s largest financier of physician practices and other health-care firms. It specialized in buying doctors’ receivables at discounts so the physicians could quickly secure they cash they needed for their businesses. National Century then packaged the receivables as asset-backed bonds and sold them to investors.
The company collapsed into bankruptcy in 2002, allegedly forcing other medical businesses to fail and prompting the Justice Department to begin looking into the company’s failure. The government has alleged Poulsen and other executives at the company overfunded health-care companies owned by Poulsen and National Century’s other principles in a ploy to enrich themselves.
As Parizek asked more executives about the company, he became convinced the company was not operating legally, he told the jury. It was around that time that Parizek wrote in his notes: “Attribute no value to LKP (Lance K. Poulsen) statements.”
Parizek also wrote: “Attribute little value to internally generated documentation and data.”
On the day he resigned, more than two months after he joined the business, Parizek said Poulsen called him on his office phone. Poulsen started off friendly, Parizek told the jury, and then became angry and vulgar.
In his notes, Parizek wrote that Poulsen said: “I don’t know what your agenda is, but the only ... agenda in this company is mine.” Parizek also wrote in his notes that Poulsen said he didn’t need Parizek’s morality.
Under questioning by William Terpening, Poulsen’s attorney, Parizek sparred over whether he was fired or resigned from his job. Parizek maintained he resigned.
“You were fired by Mr. Poulsen,” Terpening said.
“That was not the case,” Parizek replied.
When Terpening asked Parizek about many of National Century’s financial inner workings, the witness said he couldn’t recall details. Terpening asked why Parizek’s detailed notes should then be considered accurate.
Terpening also asked why Parizek didn’t go to the government if he was concerned about National Century. Parizek answered he wanted to move on and didn’t think about National Century until the government contacted him in 2002 after the company went bankrupt.
Oh! Did I mention? James K. Happ, arrived at NCFE after dumping Columbia's losing assets into the largest Bankruptcy case in Tennessee only to be ,,,
...financed by National Centruy Finanacial Enterprises, Inc. (NCFE)
Funny, he was the one to divest the losing assets dragging HCA's stock price to its lowest in years. Shall I continue?
If I could only reach Bob Woodward!
Jury acquits last National Century exec
Wednesday, December 17, 2008 1:54 PM
By Jodi Andes
THE COLUMBUS DISPATCH
James K. Happ, the last National Century Financial Enterprises executive charged in the multibillion-dollar fraud that damaged pensions across the country, has been found not guilty on all charges by a jury in U.S. District Court in Columbus.
The verdicts came shortly before 2:30 p.m. after about 12 hours of deliberation.
Happ, 48, had been charged with conspiracy, money-laundering conspiracy and three counts of wire fraud in connection with advances he authorized while he was in charge of purchasing National Century's accounts receivable.
He was a vice president of the Dublin-based company, which collapsed in 2002. Close to $2 billion in investors' money was lost, and 275 health-care businesses went bankrupt.
Using cash generated by the sale of bonds to investors, National Century bought accounts receivable from health-care providers and collected them for a fee. But investors were never told about money being given to providers without National Century getting the accounts receivable in return, prosecutors said.
Ten former executives were convicted or pleaded guilty on fraud charges tied to the company's collapse.
Funny, he was the one to divest the losing assets dragging HCA's stock price to its lowest in years. Shall I continue?
If I could only reach Bob Woodward!
Jury acquits last National Century exec
Wednesday, December 17, 2008 1:54 PM
By Jodi Andes
THE COLUMBUS DISPATCH
James K. Happ, the last National Century Financial Enterprises executive charged in the multibillion-dollar fraud that damaged pensions across the country, has been found not guilty on all charges by a jury in U.S. District Court in Columbus.
The verdicts came shortly before 2:30 p.m. after about 12 hours of deliberation.
Happ, 48, had been charged with conspiracy, money-laundering conspiracy and three counts of wire fraud in connection with advances he authorized while he was in charge of purchasing National Century's accounts receivable.
He was a vice president of the Dublin-based company, which collapsed in 2002. Close to $2 billion in investors' money was lost, and 275 health-care businesses went bankrupt.
Using cash generated by the sale of bonds to investors, National Century bought accounts receivable from health-care providers and collected them for a fee. But investors were never told about money being given to providers without National Century getting the accounts receivable in return, prosecutors said.
Ten former executives were convicted or pleaded guilty on fraud charges tied to the company's collapse.
Federal Prosecutors did not do their job....Really? No surprise...
Why would Federal Prosecutors open a can opf worms that is directly connected to GW Bush's ex-partner, Richard Rainwater of Columbia Homecare Group, (Dallas Ft Worth Homecare) and an exctension of HCA. The crooks in Nashville!
Just look at what they dumped into Medshares, Inc in TN financed by NCFE...
ALL THE LOSERS from the PUBLICLY TRADED companies y of HCA and IHS!!!
National Century fraud case produces 1st acquittal
Prosecutors' case fell short, juror says
Thursday, December 18, 2008 3:29 AM
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."
Happ, 48, of Dublin, was tried on conspiracy, money-laundering conspiracy and three counts of wire fraud in connection with money advances that he authorized while in charge of purchasing National Century's accounts receivable.
He was the only one of 11 former National Century executives charged in the scam who walked out of the courtroom with a not-guilty verdict.
For Happ, the acquittal was vindication.
"Praise God. He answers prayers," Happ said. "I never believed I had any intent to defraud anyone."
But there was no doubt that fraud had occurred at National Century, the juror said.
The Dublin-based company bought accounts receivable from health-care providers and collected the money owed on them for a fee. Money generated from the sale of bonds to investors provided the funding.
However, investors didn't know that National Century also gave providers millions of dollars without purchasing accounts receivable to back up the loans. That's because a separate set of books hid that and the company's shrinking reserve accounts.
Investors lost $1.9 billion when National Century collapsed in 2002. It's considered to be the largest fraud case by a private company in U.S. history.
Witnesses testified that Happ was part of that deceit. But the witnesses were "tainted," the juror said.
The key witness, Sherry Gibson, had falsified National Century's books herself. Frank Magliochetti, who testified that Happ boasted he could never be prosecuted because he didn't sign anything, bragged about his own ties to organized crime.
Prosecutors should have brought in more witnesses and greater proof to show that Happ had personally been deceitful, the juror said.
Happ's attorneys admitted that he advanced money to health-care companies. But that's simply how National Century did business, his attorneys said, and auditors and banks oversaw company accounts.
They also argued that the advances had been made for eight years before Happ joined the company in 2000.
After leaving National Century, Happ went to work for Tender Loving Care, a client of National Century's that had received close to $100 million in unmerited advances.
TLC later filed for bankruptcy. But Happ, TLC's chief executive officer, oversaw the sale of company assets to repay National Century, the defense noted.
That did not make things right, Assistant U.S. Attorney Doug Squires told the jury.
"If someone takes your wallet and it later is recovered, does that mean that no crime is committed? No, it doesn't," Squires said.
After the verdict, the prosecutorial team of Squires, N. Nathan Dimock and Nicole Sprinzen declined to comment through the office spokesman, Fred Alverson.
"We appreciate the effort of all the (FBI and Internal Revenue Service) agents in preparation of the evidence," Alverson said. "And we respect the jury's decision."
The case was tried in U.S. District Court in Columbus before Judge Algenon L. Marbley.
jandes@dispatch.com
Just look at what they dumped into Medshares, Inc in TN financed by NCFE...
ALL THE LOSERS from the PUBLICLY TRADED companies y of HCA and IHS!!!
National Century fraud case produces 1st acquittal
Prosecutors' case fell short, juror says
Thursday, December 18, 2008 3:29 AM
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."
Happ, 48, of Dublin, was tried on conspiracy, money-laundering conspiracy and three counts of wire fraud in connection with money advances that he authorized while in charge of purchasing National Century's accounts receivable.
He was the only one of 11 former National Century executives charged in the scam who walked out of the courtroom with a not-guilty verdict.
For Happ, the acquittal was vindication.
"Praise God. He answers prayers," Happ said. "I never believed I had any intent to defraud anyone."
But there was no doubt that fraud had occurred at National Century, the juror said.
The Dublin-based company bought accounts receivable from health-care providers and collected the money owed on them for a fee. Money generated from the sale of bonds to investors provided the funding.
However, investors didn't know that National Century also gave providers millions of dollars without purchasing accounts receivable to back up the loans. That's because a separate set of books hid that and the company's shrinking reserve accounts.
Investors lost $1.9 billion when National Century collapsed in 2002. It's considered to be the largest fraud case by a private company in U.S. history.
Witnesses testified that Happ was part of that deceit. But the witnesses were "tainted," the juror said.
The key witness, Sherry Gibson, had falsified National Century's books herself. Frank Magliochetti, who testified that Happ boasted he could never be prosecuted because he didn't sign anything, bragged about his own ties to organized crime.
Prosecutors should have brought in more witnesses and greater proof to show that Happ had personally been deceitful, the juror said.
Happ's attorneys admitted that he advanced money to health-care companies. But that's simply how National Century did business, his attorneys said, and auditors and banks oversaw company accounts.
They also argued that the advances had been made for eight years before Happ joined the company in 2000.
After leaving National Century, Happ went to work for Tender Loving Care, a client of National Century's that had received close to $100 million in unmerited advances.
TLC later filed for bankruptcy. But Happ, TLC's chief executive officer, oversaw the sale of company assets to repay National Century, the defense noted.
That did not make things right, Assistant U.S. Attorney Doug Squires told the jury.
"If someone takes your wallet and it later is recovered, does that mean that no crime is committed? No, it doesn't," Squires said.
After the verdict, the prosecutorial team of Squires, N. Nathan Dimock and Nicole Sprinzen declined to comment through the office spokesman, Fred Alverson.
"We appreciate the effort of all the (FBI and Internal Revenue Service) agents in preparation of the evidence," Alverson said. "And we respect the jury's decision."
The case was tried in U.S. District Court in Columbus before Judge Algenon L. Marbley.
jandes@dispatch.com
Bush, Rainwater, Moore, Poulsen, Happ, Fraud, Healthcare Fraud, Bankruptcy Fraud, Financial Fraud
Columbia Homecare Group was also involved with the largest Bankruptcy in Western Tennessee . Medshares, Inc. which was also connected to the largest ‘private’ fraud case in Columbus Ohio, National Cantury Finanacial Enterprises, Inc. (NCFE).
Funny, the only executive to be acquitted was the ex-CFO of Columbia Homecare Group out of Dallas Ft Worth, Mr. Richard Rainwater’s losing assets of HCA/TN.
James K Happ, the ex-CFO, dumped all the homecares into Medshares, financed by, you guessed it, NCFE!!
Guess it pays to be the ex-partner of the worst President in our modern history.
Rainwater & Bush----go TEXAS RANGERS!!!!
I woncder if BUSH & RAINWATER will have dinner at the White House or maybe at the "WESTERN" White HOUSE. Oh and don't forget, Rainwater's wife, the Queen of Bankruptcy,Darla Moore. Remember, she was the inventor of 'DIP FINANCE' while at CHASE BANK for CORPORATE BANKRUPTCY.
Funny, the only executive to be acquitted was the ex-CFO of Columbia Homecare Group out of Dallas Ft Worth, Mr. Richard Rainwater’s losing assets of HCA/TN.
James K Happ, the ex-CFO, dumped all the homecares into Medshares, financed by, you guessed it, NCFE!!
Guess it pays to be the ex-partner of the worst President in our modern history.
Rainwater & Bush----go TEXAS RANGERS!!!!
I woncder if BUSH & RAINWATER will have dinner at the White House or maybe at the "WESTERN" White HOUSE. Oh and don't forget, Rainwater's wife, the Queen of Bankruptcy,Darla Moore. Remember, she was the inventor of 'DIP FINANCE' while at CHASE BANK for CORPORATE BANKRUPTCY.
Columbia Hospital Corporation & National Century Finanacial Enterprises & James K Happ
The one and only executive from NCFE who by the way came from Columbia to NCFE before the FBI raided their offices, was acquitted.
Funny, he was the last person to go on trial.
How convenient!
Undercover: How I Went from Company Man to FBI Spy -- and Exposed the Worst Healthcare Fraud in US History (Hardcover)
Review
“…[an] exciting story of an ordinary man who finds himself in extraordinary circumstances. You could say it’s a rags-to-riches morality tale, with good emerging victorious (up to a point) over bad.” Milwaukee Journal Sentinel
When John Schilling, an unassuming mid-level accountant, went to work for the Columbia Hospital Corporation, he never expected to become the catalyst for the series of “whistleblower” cases that ripped through the healthcare industry in the late 1990s. But when he unwittingly discovered that the company was siphoning billions of dollars away from Medicare and stealing from American taxpayers, he was faced with a choice: Speak up for what he believed to be right, or remain silent. Undercover tells the story of Schilling’s harrowing journey from ordinary citizen to federal informant. The book recounts how Schilling allied himself with the FBI and the Justice Department and–unable to confide in friends or family–journeyed into an undercover world in which he carried a wire and mapped out offices for secret government raids. Suspenseful and provocative, Undercover chronicles Schilling’s nine-year ordeal that eventually led to the resignation of high-level executives and forced Columbia to return $1.7 billion dollars to the federal government. A compelling account of one man’s decision to risk everything for the greater good, this book reveals the personal side of a thankless role that resulted, ultimately, in justice.
See all Editorial Reviews
order Undercover: How I Went from Company Man to FBI Spy — and Exposed the Worst Healthcare Fraud in US History: John W. Schilling form Amazon.
Funny, he was the last person to go on trial.
How convenient!
Undercover: How I Went from Company Man to FBI Spy -- and Exposed the Worst Healthcare Fraud in US History (Hardcover)
Review
“…[an] exciting story of an ordinary man who finds himself in extraordinary circumstances. You could say it’s a rags-to-riches morality tale, with good emerging victorious (up to a point) over bad.” Milwaukee Journal Sentinel
When John Schilling, an unassuming mid-level accountant, went to work for the Columbia Hospital Corporation, he never expected to become the catalyst for the series of “whistleblower” cases that ripped through the healthcare industry in the late 1990s. But when he unwittingly discovered that the company was siphoning billions of dollars away from Medicare and stealing from American taxpayers, he was faced with a choice: Speak up for what he believed to be right, or remain silent. Undercover tells the story of Schilling’s harrowing journey from ordinary citizen to federal informant. The book recounts how Schilling allied himself with the FBI and the Justice Department and–unable to confide in friends or family–journeyed into an undercover world in which he carried a wire and mapped out offices for secret government raids. Suspenseful and provocative, Undercover chronicles Schilling’s nine-year ordeal that eventually led to the resignation of high-level executives and forced Columbia to return $1.7 billion dollars to the federal government. A compelling account of one man’s decision to risk everything for the greater good, this book reveals the personal side of a thankless role that resulted, ultimately, in justice.
See all Editorial Reviews
order Undercover: How I Went from Company Man to FBI Spy — and Exposed the Worst Healthcare Fraud in US History: John W. Schilling form Amazon.
By Dennis Jay
Jan 2, 2009, 4:18 PM EST
Let’s make 2009 the year we finally turn the corner on insurance fraud and truly make a difference in curbing this crime — and in the process, helping to keep insurance affordable and making the insurance system fairer for everyone.
To that end, here are a few New Year’s resolutions for the fraud-fighting community:
Insurers: Resolve to adopt a zero-tolerance attitude towards fraud. Provide adequate resources to your SIUs and recognize that a down economy is exactly the wrong time to cut back on anti-fraud activities;
Fraud bureaus: Resolve to become more efficient and adopt more strategies to deter fraud, including publicizing arrests and convictions;
Regulators: Resolve to seek greater uniformity in anti-fraud regulations from state to state, and ensure all insurers comply with anti-fraud requirements;
Prosecutors: Resolve to find creative ways to accept more fraud cases, especially the difficult ones.
State legislators: Resolve to give fraud-fighters more tools by enacting needed fraud legislation, and that goes double for lawmakers in Oregon, Virginia and Alabama, the last states that lack even a basic insurance fraud statutue;
President-elect Obama and Congress: Resolve to include strong anti-fraud provisions in any new healthcare initiatives;
Consumers: Resolve to resist the temptation to inflate insurance claims; encourage your friends, family and co-workers to stay honest.
And lastly, the coalition: Resolve to strengthen partnerships with all constituents groups, including other anti-fraud organizations, and to have a measurable impact on reducing insurance fraud.
May you stick to all of your resolutions and have a successful 2009!
Jan 2, 2009, 4:18 PM EST
Let’s make 2009 the year we finally turn the corner on insurance fraud and truly make a difference in curbing this crime — and in the process, helping to keep insurance affordable and making the insurance system fairer for everyone.
To that end, here are a few New Year’s resolutions for the fraud-fighting community:
Insurers: Resolve to adopt a zero-tolerance attitude towards fraud. Provide adequate resources to your SIUs and recognize that a down economy is exactly the wrong time to cut back on anti-fraud activities;
Fraud bureaus: Resolve to become more efficient and adopt more strategies to deter fraud, including publicizing arrests and convictions;
Regulators: Resolve to seek greater uniformity in anti-fraud regulations from state to state, and ensure all insurers comply with anti-fraud requirements;
Prosecutors: Resolve to find creative ways to accept more fraud cases, especially the difficult ones.
State legislators: Resolve to give fraud-fighters more tools by enacting needed fraud legislation, and that goes double for lawmakers in Oregon, Virginia and Alabama, the last states that lack even a basic insurance fraud statutue;
President-elect Obama and Congress: Resolve to include strong anti-fraud provisions in any new healthcare initiatives;
Consumers: Resolve to resist the temptation to inflate insurance claims; encourage your friends, family and co-workers to stay honest.
And lastly, the coalition: Resolve to strengthen partnerships with all constituents groups, including other anti-fraud organizations, and to have a measurable impact on reducing insurance fraud.
May you stick to all of your resolutions and have a successful 2009!
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