Lance Poulsen, the former chairman and CEO of collapsed healthcare finance company National Century Financial Enterprises, was sentenced to 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. 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 now bankrupt Dublin, Ohio, company. Poulsens sentence will run concurrently with a 10-year term he received for witness tampering. Judge Algenon Marbley denied a request by Parretts lawyer to postpone the hearing, concluding it was not plausible that, as her lawyer suggested, unspecified health problems could be the reason for her disappearance after her trial ended in March 2008. Marbley approved a warrant allowing the government to seize $396,000 from an Arizona bank account belonging to Parrett. Marbley also ordered Poulsen and Parrett to join the other convicted NCFE executives in forfeiting $1.7 billion representing the proceeds of the conspiracy and pay restitution of $2.3 billion.
Late News: Poulsen, Parrett draw hefty sentences in NCFE case
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