National Century Execs Lied To Investors: Testimony

Law360, New York (February 11, 2008, 12:00 AM EST) -- Bankrupt National Century Financial Enterprise's top brass intentionally kept from investors information about the company's financial health, according to the testimony of an NCFE executive in the ongoing fraud trial against the company and many of its officers.

Former NCFE Director of Securitizations Jon A. Beacham, who has plead guilty to fraud in connection with the alleged scheme that drove the company to bankruptcy in 2002, testified Friday in the U.S. District Court for the Southern District of Ohio that five former NCFE executives began lying...
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