Isn't that funny.....all the ignorant reporters kept writing 1.9 Billion Fraud!
Now they are going after 2 Billion from one investment bank> What gives?
Credit Suisse played an important part in an alleged fraud ?
What about JPMorgan, Chase, Citi, blah blah blah....
Investors in the failed National Century Financial Enterprises Inc. aren’t the only ones going after Credit Suisse, the investment bank that issued the Dublin company’s AAA-rated notes.
U.S. District Judge James Graham in Columbus this month allowed a litigation trust formed in the wake of National Century’s bankruptcy to pursue about $2 billion in claims against Credit Suisse. The company had been seeking to dismiss the case.
The trust has alleged Credit Suisse played an important part in an alleged fraud that led to about $2 billion in investment losses and sparked bankruptcy for its subsidiaries.
A federal probe into National Century has led to convictions of or guilty pleas from 10 of 11 former executives targeted in the investigation. The company bought lump sums of unpaid bills from health-care companies and sold the receivables as securities to be backed by the collections, but the probe found National Century executives were taking money for personal use by investing in uncollectible or nonexistent receivables.
While the criminal case against several former executives was pending, Graham in December 2007 refused to dismiss most claims against Credit Suisse from institutional investors who had alleged the investment bank knew the notes it marketed and sold were worthless.
The bank in the action filed by the litigation trust unsuccessfully argued the National Century fraud did harm only to investors represented in the other lawsuit, leaving the trust with no grounds for its claims.
Credit Suisse has argued it wasn’t liable because it didn’t make misrepresentations to clients and didn’t have knowledge of the fraud. Officials for the company declined to comment for this report.
Robert Madden, a partner at Houston-based Gibbs & Bruns LLP representing the trust and the largest group of investors within the related suit, said both cases are now running on roughly parallel tracks after the latest refusal to dismiss the suit. Discovery is complete for both cases and, barring a summary judgment, they’ll be headed to trial.
Wednesday, March 25, 2009
Tuesday, March 24, 2009
The only true statement in this AP article is
Almost $400,000 seized in Ohio fraud case
By ANDREW WELSH-HUGGINS – 21 hours ago
This is misleaduing and WRONG!COLUMBUS, Ohio (AP) — A fugitive convicted in a $1.9 billion corporate fraud scheme put aside almost $400,000 in a bank account before she disappeared, money her trial attorney said he knew nothing about.
Rebecca Parrett, who has been on the lam nearly a year, gave the money to another attorney after removing it from an escrow account, according to federal court documents. But on Friday, U.S. District Court Judge Algenon Marbley said the funds should be seized from an Arizona bank account used by Parrett, 60, a former executive with National Century Financial Enterprises.
The government could use the money to provide restitution to investors who lost money.
Parrett, who will be sentenced Friday in absentia, faces up to 60 years in prison. She disappeared last March after her conviction on 13 counts of securities and wire fraud and money laundering while she worked for National Century in suburban Columbus. Prosecutors likened the fraud, which involved misleading investors and fabricating data, to the Enron or WorldCom scandals.
Arizona attorney Seymour Sacks told the U.S. marshals that Parrett had given him $350,000 from an escrow account, the warrant said. Sacks said he refused to turn the money over to Parrett's husband and son when they requested it after she disappeared, according to the warrant.
Gregory Peterson, who represented Parrett at trial, said he only learned of the money's existence after his client disappeared.
"I was not aware of any money she had anywhere," Peterson said Monday, repeating that he didn't know where his client was.
Parrett's sentencing in absentia will come a few hours before Marbley sentences Lance Poulsen, National Century's founder and former chief executive.
The sentencings are the latest chapter in the downfall of what was once the country's largest health care financing company. Since the FBI raided its offices in 2002, at least nine former executives have been convicted of corporate fraud.
At its height the company employed more than 300 people, most of them in the Columbus area. Executives made millions, with Poulsen alone earning more than $9.1 million between 1996 and 2002, according to the government.
National Century offered financing to small hospitals, nursing homes and other health care providers by purchasing their accounts receivable, usually for 80 or 90 cents on the dollar, so they wouldn't have to wait for insurance payments. National Century then collected the full amount of the payments.
The company raised the money to fund its business by selling bonds to investors. It declared bankruptcy in 2002 after the FBI raid.
Copyright © 2009 The Associated Press. All rights reserved.
By ANDREW WELSH-HUGGINS – 21 hours ago
This is misleaduing and WRONG!COLUMBUS, Ohio (AP) — A fugitive convicted in a $1.9 billion corporate fraud scheme put aside almost $400,000 in a bank account before she disappeared, money her trial attorney said he knew nothing about.
Rebecca Parrett, who has been on the lam nearly a year, gave the money to another attorney after removing it from an escrow account, according to federal court documents. But on Friday, U.S. District Court Judge Algenon Marbley said the funds should be seized from an Arizona bank account used by Parrett, 60, a former executive with National Century Financial Enterprises.
The government could use the money to provide restitution to investors who lost money.
Parrett, who will be sentenced Friday in absentia, faces up to 60 years in prison. She disappeared last March after her conviction on 13 counts of securities and wire fraud and money laundering while she worked for National Century in suburban Columbus. Prosecutors likened the fraud, which involved misleading investors and fabricating data, to the Enron or WorldCom scandals.
Arizona attorney Seymour Sacks told the U.S. marshals that Parrett had given him $350,000 from an escrow account, the warrant said. Sacks said he refused to turn the money over to Parrett's husband and son when they requested it after she disappeared, according to the warrant.
Gregory Peterson, who represented Parrett at trial, said he only learned of the money's existence after his client disappeared.
"I was not aware of any money she had anywhere," Peterson said Monday, repeating that he didn't know where his client was.
Parrett's sentencing in absentia will come a few hours before Marbley sentences Lance Poulsen, National Century's founder and former chief executive.
The sentencings are the latest chapter in the downfall of what was once the country's largest health care financing company. Since the FBI raided its offices in 2002, at least nine former executives have been convicted of corporate fraud.
At its height the company employed more than 300 people, most of them in the Columbus area. Executives made millions, with Poulsen alone earning more than $9.1 million between 1996 and 2002, according to the government.
National Century offered financing to small hospitals, nursing homes and other health care providers by purchasing their accounts receivable, usually for 80 or 90 cents on the dollar, so they wouldn't have to wait for insurance payments. National Century then collected the full amount of the payments.
The company raised the money to fund its business by selling bonds to investors. It declared bankruptcy in 2002 after the FBI raid.
Copyright © 2009 The Associated Press. All rights reserved.
Friday, March 20, 2009
AIG POLITICAL CONTRIBUTIONS
March 8, 2004
AIG, Citigroup Battle Unions on Political Donation Disclosure
http://www.bloomberg.com/apps/news?pid=10000103&sid=arBbK7iUfgPM&refer=us
Merrill Backs Bush
Bush derives much of his campaign donations from executives at publicly traded companies, with employees at Merrill Lynch & Co., UBS AG and MBNA Corp. among those making up 13 of his top 20 donors last year, contributing $2.9 million.
Six of the top 20 donors to Senator John Kerry, who has clinched the Democratic Party's presidential nomination, were employees of listed companies, and they gave $275,000 since he began campaigning in January 2003, according to the Center for Responsive Politics.
The shareholder resolutions were filed in December and January by the Service Employees International Union and other affiliates of the AFL-CIO, a federation of 64 unions representing 13 million people. They seek annual reports about corporate donations and ``an accounting of the company's resources, including property and personnel, contributed or donated to'' political parties or candidates.
General Electric
Shareholder proposals included in proxy ballots seldom garner a majority of votes, though a high percentage of favorable returns can send a message to the board, said Sabato at the University of Virginia.
Many of the companies targeted by the proposal asked the SEC to let them exclude the information from their proxies on the grounds that political involvement is part of ordinary business. Warren, New Jersey-based Chubb Corp., which was denied its request to omit the proposal, said in letters to the SEC that the measure would constitute micro-management by shareholders.
``Providing detailed information regarding which members of management influence which decisions about political contributions extends deeply into the company's daily decision- making procedures,'' Chubb wrote.
The SEC denied a request by Wells Fargo & Co. to omit the resolutions from its proxy. Wells Fargo, based in San Francisco, will post its policy on political contributions on its Web site in accordance with the unions' request, said spokeswoman Julia Tunis.
General Electric Co., whose chairman and chief executive officer, Jeffrey Immelt, 48, donated $2,000 to the Bush campaign, included the resolution in its proxy -- along with a recommendation to shareholders to vote against it.
``Because GE is committed to complying with applicable campaign finance laws, including all reporting requirements, we do not believe the report requested in this proposal is necessary,'' the Fairfield, Connecticut-based company said in its proxy.
http://www.washingtonpost.com/wp-dyn/content/article/2009/03/18/AR2009031803201.html?wpisrc=newsletter
From 1987 to 2004, the company's financial products unit contributed more than $5 billion to AIG's pretax income. In spring 2005, after I left the company, AIG's credit rating was downgraded. It would have been logical for AIG's new management to end or reduce its business of writing credit default swaps because of the risk it faced of having to post billions of dollars in additional collateral in connection with certain credit default protection. Yet AIG ramped up its credit default swaps business; significantly, the quality of the securities AIG wrote credit protection for deteriorated, and the company plunged into subprime mortgages. The results were disastrous.
AIG, Citigroup Battle Unions on Political Donation Disclosure
http://www.bloomberg.com/apps/news?pid=10000103&sid=arBbK7iUfgPM&refer=us
Merrill Backs Bush
Bush derives much of his campaign donations from executives at publicly traded companies, with employees at Merrill Lynch & Co., UBS AG and MBNA Corp. among those making up 13 of his top 20 donors last year, contributing $2.9 million.
Six of the top 20 donors to Senator John Kerry, who has clinched the Democratic Party's presidential nomination, were employees of listed companies, and they gave $275,000 since he began campaigning in January 2003, according to the Center for Responsive Politics.
The shareholder resolutions were filed in December and January by the Service Employees International Union and other affiliates of the AFL-CIO, a federation of 64 unions representing 13 million people. They seek annual reports about corporate donations and ``an accounting of the company's resources, including property and personnel, contributed or donated to'' political parties or candidates.
General Electric
Shareholder proposals included in proxy ballots seldom garner a majority of votes, though a high percentage of favorable returns can send a message to the board, said Sabato at the University of Virginia.
Many of the companies targeted by the proposal asked the SEC to let them exclude the information from their proxies on the grounds that political involvement is part of ordinary business. Warren, New Jersey-based Chubb Corp., which was denied its request to omit the proposal, said in letters to the SEC that the measure would constitute micro-management by shareholders.
``Providing detailed information regarding which members of management influence which decisions about political contributions extends deeply into the company's daily decision- making procedures,'' Chubb wrote.
The SEC denied a request by Wells Fargo & Co. to omit the resolutions from its proxy. Wells Fargo, based in San Francisco, will post its policy on political contributions on its Web site in accordance with the unions' request, said spokeswoman Julia Tunis.
General Electric Co., whose chairman and chief executive officer, Jeffrey Immelt, 48, donated $2,000 to the Bush campaign, included the resolution in its proxy -- along with a recommendation to shareholders to vote against it.
``Because GE is committed to complying with applicable campaign finance laws, including all reporting requirements, we do not believe the report requested in this proposal is necessary,'' the Fairfield, Connecticut-based company said in its proxy.
http://www.washingtonpost.com/wp-dyn/content/article/2009/03/18/AR2009031803201.html?wpisrc=newsletter
From 1987 to 2004, the company's financial products unit contributed more than $5 billion to AIG's pretax income. In spring 2005, after I left the company, AIG's credit rating was downgraded. It would have been logical for AIG's new management to end or reduce its business of writing credit default swaps because of the risk it faced of having to post billions of dollars in additional collateral in connection with certain credit default protection. Yet AIG ramped up its credit default swaps business; significantly, the quality of the securities AIG wrote credit protection for deteriorated, and the company plunged into subprime mortgages. The results were disastrous.
Bigger then Enron- Richard Scott and Friends
March 26, 2008; By Jodi Andes; THE COLUMBUS DISPATCH
Nine other executives have been convicted or pleaded guilty in National Century's collapse.
Only Poulsen and executive James Happ still await trial.
Only Poulsen and executive James Happ still await trial?
December 18, 2008 - The ONE AND ONLY acquittal; James K Happ!
By Jodi Andes THE COLUMBUS DISPATCH
Prosecutors' case fell short, juror says National Century fraud case produces 1st acquittal ; 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."
To unravel this massive fraud that links FRAUD intertwined with Healthcare, Corporate Bankruptcy and Financial Institutes we can go back to 1979-but I will start with 1997:
July 26, 1997, Los Angeles Times article:
A controversial deal maker whose hard-nosed business tactics have reshaped the medical industry resigned Friday as scandal engulfed the vast hospital empire he had assembled over the last decade.
Richard Scott -- sometimes called "the Bill Gates of health care" -- quit as chairman of Columbia/HCA Healthcare Corp. amid a massive federal investigation into the Medicare billing, physician recruiting and home-care practices of the nation's largest for-profit health care company.
Though the federal probe focuses on other states, Columbia's aggressive expansion has included California, where the company operates 15 hospitals, 13 surgery centers and 10 home-health-care agencies, employing more than 11,000.
July 26, 1997- Where was James K Happ?
SEC Form September 9, 2003 Annual Meeting of Stockholders, Med Diversified Inc.:
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.,
… 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
Who purchased the majority of this divestiture in late ’98 & early ’99?
Medshares, Inc. of Memphis, Tennessee
Who financed this divestiture?
National Century Financial Enterprises, Inc.
Sherry Gibson pleaded guilty in 2003 to a lesser charge of securities fraud in exchange for helping prosecutors. Gibson 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… July 30, 1999 MEDSHARES INC: Health Care Services Provider Files Chapter 11
Nine other executives have been convicted or pleaded guilty in National Century's collapse.
Only Poulsen and executive James Happ still await trial.
Only Poulsen and executive James Happ still await trial?
December 18, 2008 - The ONE AND ONLY acquittal; James K Happ!
By Jodi Andes THE COLUMBUS DISPATCH
Prosecutors' case fell short, juror says National Century fraud case produces 1st acquittal ; 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."
To unravel this massive fraud that links FRAUD intertwined with Healthcare, Corporate Bankruptcy and Financial Institutes we can go back to 1979-but I will start with 1997:
July 26, 1997, Los Angeles Times article:
A controversial deal maker whose hard-nosed business tactics have reshaped the medical industry resigned Friday as scandal engulfed the vast hospital empire he had assembled over the last decade.
Richard Scott -- sometimes called "the Bill Gates of health care" -- quit as chairman of Columbia/HCA Healthcare Corp. amid a massive federal investigation into the Medicare billing, physician recruiting and home-care practices of the nation's largest for-profit health care company.
Though the federal probe focuses on other states, Columbia's aggressive expansion has included California, where the company operates 15 hospitals, 13 surgery centers and 10 home-health-care agencies, employing more than 11,000.
July 26, 1997- Where was James K Happ?
SEC Form September 9, 2003 Annual Meeting of Stockholders, Med Diversified Inc.:
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.,
… 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
Who purchased the majority of this divestiture in late ’98 & early ’99?
Medshares, Inc. of Memphis, Tennessee
Who financed this divestiture?
National Century Financial Enterprises, Inc.
Sherry Gibson pleaded guilty in 2003 to a lesser charge of securities fraud in exchange for helping prosecutors. Gibson 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… July 30, 1999 MEDSHARES INC: Health Care Services Provider Files Chapter 11
Wall Street Journal - Richard Scott HEALTHCARE BANDIT
2009-The Wall Street Journal reported that Richard Scott, "the former chief executive of HCA Inc," had formed the non-profit organization Conservatives for Patients' Rights as part of a "lobbying campaign to derail or modify" President Obama's health care proposals, but failed to note that Scott resigned from HCA in 1997 amid a federal investigation into the company's Medicare billing, physician recruiting, and home-care practices. HCA eventually pleaded guilty to fraud charges and paid approximately $1.7 billion in fines and penalties.
THURSDAY, JUNE 26, 2003; WWW.USDOJ.GOV;
WASHINGTON, D.C.
HCA Inc. (formerly known as Columbia/HCA and HCA - The Healthcare Company)
LARGEST HEALTH CARE FRAUD CASE IN U.S. HISTORY SETTLED; HCA INVESTIGATION NETS RECORD TOTAL OF $1.7 BILLION
Note: Hospital Corporation of America (HCA) was acquired by Columbia in 1994.
Why does this matter? The wrath of Richard Scott and friends is to this day still affecting main street America.
Who is Richard Scott? More importantly, who are Richard Rainwater & his wife, Darla Moore?
Before GW Bush was affiliated with Richard Rainwater may I remind you-Richard Scott was the ex-partner of Richard Rainwater with Columbia Homecare Group.
In 1997, Fortune magazine ran a cover story on successful business executive Darla Moore, titled "The Toughest Babe in Business."….She created the corporate bankruptcy finance tool, DIP, debtor in possession while at a Wall Street bank.
Columbia/HCA is a partnership of financier Richard Rainwater of Ft. Worth and lawyer Richard Scott. Scott was recently terminated by Darla Moore, the wife of Richard Rainwater and according to Fortune Magazine, the “Toughest Babe in the Business”.
As part of Richard Scott's severance package from Columbia he was paid $5.13 million and given a five year consulting contract at $950,000 per year. His former president, Mr. Vandewater was paid $3.24 million and given a five year consulting contract at $600,000 per year.
Both former executives are allowed to exercise vested stock options within 90 days. Scott owned or had options on 9.4 million shares of Columbia stock as of May, 1997. Vanderwater controlled 617,375 shares. Columbia has agreed to pay attorney's fees and any fines or judgments against the two. In addition, the two former executives get their office expenses paid for two years including secretaries. If they move within the next two years their moving expenses are paid by Columbia/HCA. Not a bad deal for someone who just got fired! Wow! What a surprise!
Rainwater also owned a large stake in Magellan Health Care which controls Charter Medical. Magellan, run by Darla Moore, is the largest network of psychiatric hospitals in the country. They are becoming more and more involved in obtaining government money for services formerly not covered as health care, according to Fortune Magazine.
Columbia just decided to sell its home health-care business and its head announced she is forming a company of her own. The home care unit is valued at $ 450 million.
At least two other top executives of Columbia have resigned.
On Sept 8, 1998 Standard and Poors downgraded the bonds of Charter/HCA to negative bases on poor earnings. Looks like Rainwater and his Crescent Cos' have finally stumbled. One source within the company said it would be a long while before any new high-ticket acquisitions would take place. A previous deal with Prudential is in danger of being jettisoned.
Why does this matter- September 8, 1998?
We must review the case that just ended in December 2008 in Columbus Ohio with National Century Financial Enterprises which was headquartered in Dublin, Ohio. It began in 2002 when FBI raided the offices of National Century Financial Enterprises Dublin, Ohio
National Century Financial Enterprises:
“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.
Just a reminder relating to the need for ‘healthcare financial service’ i.e. (NCFE) National Century Financial Enterprises; home health - which was struggling under the Balanced Budget Act of 1997; about 1,400 agencies closed nationwide in 1998.
3/9/2006
10-K SEC Filing, filed by J P MORGAN CHASE & CO on 3/9/2006: Enron litigation. JPMorgan Chase and certain of its officers and directors are involved in a number of lawsuits arising out of its banking relationships with Enron Corp.; the three current or former Firm employees are sued in their roles as former members of NCFE's board of directors
THURSDAY, JUNE 26, 2003; WWW.USDOJ.GOV;
WASHINGTON, D.C.
HCA Inc. (formerly known as Columbia/HCA and HCA - The Healthcare Company)
LARGEST HEALTH CARE FRAUD CASE IN U.S. HISTORY SETTLED; HCA INVESTIGATION NETS RECORD TOTAL OF $1.7 BILLION
Note: Hospital Corporation of America (HCA) was acquired by Columbia in 1994.
Why does this matter? The wrath of Richard Scott and friends is to this day still affecting main street America.
Who is Richard Scott? More importantly, who are Richard Rainwater & his wife, Darla Moore?
Before GW Bush was affiliated with Richard Rainwater may I remind you-Richard Scott was the ex-partner of Richard Rainwater with Columbia Homecare Group.
In 1997, Fortune magazine ran a cover story on successful business executive Darla Moore, titled "The Toughest Babe in Business."….She created the corporate bankruptcy finance tool, DIP, debtor in possession while at a Wall Street bank.
Columbia/HCA is a partnership of financier Richard Rainwater of Ft. Worth and lawyer Richard Scott. Scott was recently terminated by Darla Moore, the wife of Richard Rainwater and according to Fortune Magazine, the “Toughest Babe in the Business”.
As part of Richard Scott's severance package from Columbia he was paid $5.13 million and given a five year consulting contract at $950,000 per year. His former president, Mr. Vandewater was paid $3.24 million and given a five year consulting contract at $600,000 per year.
Both former executives are allowed to exercise vested stock options within 90 days. Scott owned or had options on 9.4 million shares of Columbia stock as of May, 1997. Vanderwater controlled 617,375 shares. Columbia has agreed to pay attorney's fees and any fines or judgments against the two. In addition, the two former executives get their office expenses paid for two years including secretaries. If they move within the next two years their moving expenses are paid by Columbia/HCA. Not a bad deal for someone who just got fired! Wow! What a surprise!
Rainwater also owned a large stake in Magellan Health Care which controls Charter Medical. Magellan, run by Darla Moore, is the largest network of psychiatric hospitals in the country. They are becoming more and more involved in obtaining government money for services formerly not covered as health care, according to Fortune Magazine.
Columbia just decided to sell its home health-care business and its head announced she is forming a company of her own. The home care unit is valued at $ 450 million.
At least two other top executives of Columbia have resigned.
On Sept 8, 1998 Standard and Poors downgraded the bonds of Charter/HCA to negative bases on poor earnings. Looks like Rainwater and his Crescent Cos' have finally stumbled. One source within the company said it would be a long while before any new high-ticket acquisitions would take place. A previous deal with Prudential is in danger of being jettisoned.
Why does this matter- September 8, 1998?
We must review the case that just ended in December 2008 in Columbus Ohio with National Century Financial Enterprises which was headquartered in Dublin, Ohio. It began in 2002 when FBI raided the offices of National Century Financial Enterprises Dublin, Ohio
National Century Financial Enterprises:
“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.
Just a reminder relating to the need for ‘healthcare financial service’ i.e. (NCFE) National Century Financial Enterprises; home health - which was struggling under the Balanced Budget Act of 1997; about 1,400 agencies closed nationwide in 1998.
3/9/2006
10-K SEC Filing, filed by J P MORGAN CHASE & CO on 3/9/2006: Enron litigation. JPMorgan Chase and certain of its officers and directors are involved in a number of lawsuits arising out of its banking relationships with Enron Corp.; the three current or former Firm employees are sued in their roles as former members of NCFE's board of directors
Leo Wise - Federal prosecutors had not done their job - Dec 2008
Leo Wise Biographical Statement
February 18, 2007
“Federal prosecutors had not done their job” in 2008?
Leo Wise is a trial attorney with the Fraud Section of the Criminal Division of the United States Department of Justice in Washington, DC. Mr. Wise joined the Department of Justice through the Attorney General’s Honors Program in 2004.
His first assignment was with the Tobacco Litigation Team, a task force that successfully prosecuted United States v. Philip Morris, et al., the federal government’s racketeering case against the American cigarette industry in 2004 and
2005. Following a 10-month trial, Judge Gladys Kessler of the United States District Court for the District of Columbia found for the United States. Mr. Wise’s next position was with the Enron Task Force as member of the trial team in the successful prosecution of United States v. Jeffrey Skilling and Kenneth Lay. Following a 4-month trial, a Houston jury convicted both defendants in June 2006.
Mr. Wise is a recipient of awards from the Assistant Attorney General for the Civil Division in 2005, the Assistant Attorney General for the Criminal Division in 2006 and the Attorney General’s Award for Exceptional Service in 2006. Prior to joining the Department, Mr. Wise was a law clerk to the Honorable Jan E. DuBois of the United States District Court for the Eastern District of Pennsylvania in Philadelphia.
Mr. Wise is a graduate of the Harvard Law School, the School of Advanced International Studies and The Johns Hopkins University. In addition, Mr. Wise is a commissioned officer in the United States Navy Reserve Intelligence Program and an adjunct professor in the School of Public Affairs at American University
JULY 10, 2007 - SUPERSEDING INDICTMENT CHARGES EIGHT FORMER EXECUTIVES OF HEALTH CARE FINANCING COMPANY WITH CONSPIRACY, FRAUD, MONEY LAUNDERING
"This case is one of the largest corporate fraud investigations involving a privately held company headquartered in small town America," said FBI Criminal Investigative Division. (Because it was private, no one has ever heard of this case, cried one prosecutor)
December 18, 2008 - The ONE AND ONLY acquittal; James K Happ!
By Jodi Andes THE COLUMBUS DISPATCH
Prosecutors' case fell short, juror says National Century fraud case produces 1st acquittal; 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
Federal prosecutors had not done their job!!
February 18, 2007
“Federal prosecutors had not done their job” in 2008?
Leo Wise is a trial attorney with the Fraud Section of the Criminal Division of the United States Department of Justice in Washington, DC. Mr. Wise joined the Department of Justice through the Attorney General’s Honors Program in 2004.
His first assignment was with the Tobacco Litigation Team, a task force that successfully prosecuted United States v. Philip Morris, et al., the federal government’s racketeering case against the American cigarette industry in 2004 and
2005. Following a 10-month trial, Judge Gladys Kessler of the United States District Court for the District of Columbia found for the United States. Mr. Wise’s next position was with the Enron Task Force as member of the trial team in the successful prosecution of United States v. Jeffrey Skilling and Kenneth Lay. Following a 4-month trial, a Houston jury convicted both defendants in June 2006.
Mr. Wise is a recipient of awards from the Assistant Attorney General for the Civil Division in 2005, the Assistant Attorney General for the Criminal Division in 2006 and the Attorney General’s Award for Exceptional Service in 2006. Prior to joining the Department, Mr. Wise was a law clerk to the Honorable Jan E. DuBois of the United States District Court for the Eastern District of Pennsylvania in Philadelphia.
Mr. Wise is a graduate of the Harvard Law School, the School of Advanced International Studies and The Johns Hopkins University. In addition, Mr. Wise is a commissioned officer in the United States Navy Reserve Intelligence Program and an adjunct professor in the School of Public Affairs at American University
JULY 10, 2007 - SUPERSEDING INDICTMENT CHARGES EIGHT FORMER EXECUTIVES OF HEALTH CARE FINANCING COMPANY WITH CONSPIRACY, FRAUD, MONEY LAUNDERING
"This case is one of the largest corporate fraud investigations involving a privately held company headquartered in small town America," said FBI Criminal Investigative Division. (Because it was private, no one has ever heard of this case, cried one prosecutor)
December 18, 2008 - The ONE AND ONLY acquittal; James K Happ!
By Jodi Andes THE COLUMBUS DISPATCH
Prosecutors' case fell short, juror says National Century fraud case produces 1st acquittal; 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
Federal prosecutors had not done their job!!
Charles Krauthammer-Bigger than Enron
I AM SO CONFUSED!
Did this happen Januaray 20, 2009?
I am guessing NOT!
I say before 1999 even....but let us look:
Ready?
2004
AIG
2004
MERRILL
March 8, 2004
AIG, Citigroup Battle Unions on Political
Donation Disclosure
http://www.bloomberg.com/apps/news?pid=10000103&sid=arBbK7iUfgPM&refer=us
Merrill Backs Bush
Bush derives much of his campaign donations from executives at publicly traded companies, with employees at Merrill Lynch & Co., UBS AG and MBNA Corp. among those making up 13 of his top 20 donors last year, contributing $2.9 million.
Six of the top 20 donors to Senator John Kerry, who has clinched the Democratic Party's presidential nomination, were employees of listed companies, and they gave $275,000 since he began campaigning in January 2003, according to the Center for Responsive Politics.
WHO HAD ACCESS IN 2004? AIG or me?
Did this happen Januaray 20, 2009?
I am guessing NOT!
I say before 1999 even....but let us look:
Ready?
2004
AIG
2004
MERRILL
March 8, 2004
AIG, Citigroup Battle Unions on Political
Donation Disclosure
http://www.bloomberg.com/apps/news?pid=10000103&sid=arBbK7iUfgPM&refer=us
Merrill Backs Bush
Bush derives much of his campaign donations from executives at publicly traded companies, with employees at Merrill Lynch & Co., UBS AG and MBNA Corp. among those making up 13 of his top 20 donors last year, contributing $2.9 million.
Six of the top 20 donors to Senator John Kerry, who has clinched the Democratic Party's presidential nomination, were employees of listed companies, and they gave $275,000 since he began campaigning in January 2003, according to the Center for Responsive Politics.
WHO HAD ACCESS IN 2004? AIG or me?
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