Lance Poulsen, the former chairman and CEO of collapsed healthcare finance company National Century Financial Enterprises, was sentenced to spend 30 years in a federal prison for directing an estimated $1.9 billion fraud on investors. Rebecca Parrett, who was the companys chief operating officer and vice chairman, was sentenced to 25 years in prison. She remains a fugitive.
In separate trials last year in U.S. District Court in Columbus, Ohio, Poulsen, 65, and Parrett, 60, were convicted of fraud, money laundering and conspiracy committed while they were at the helm of the Dublin, Ohio, company, which went bankrupt in 2002. Poulsens sentence will run concurrently with a 10-year prison term he received for witness tampering.