In reference to the article on Lance Poulsen and his COO (Rebecca) Parrett being sentenced to 30 and 25 years, respectively (March 30, p. 4), I believe justice will be served if they are required to remain in prison for the full sentence. In a former position, I became intimately familiar with the agreements utilized by National Century Financial Enterprises with their clients and found the multiple contract agreements to be false and misleading. With overlapping termination dates and fees for each of the required multiple agreements, it was nearly impossible for a hospital, once contracted with NCFE, to terminate the relationship. Finally, the purported 12% interest rate for financing of accounts receivable was really 22% after considering all of the fees, premiums, etc.
The folklore of the proof is in the pudding by tasting it was shown when the police seized NCFE; it is reported that 275 hospitals went into bankruptcy. The NCFE was a predator thief stealing from patients, providers and insurance carriers.
In my judgment, there is no difference between NCFE and Bernard Madoff.
Charles KueblerOlney, Md.