Jury Convicts Former National Century CEO Of Fraud

Law360, New York (October 31, 2008, 12:00 AM EDT) -- A federal jury has found the former chief of National Century Financial Enterprises Inc., Lance K. Poulsen, guilty of cheating investors of approximately $2 billion.

Poulsen was convicted Friday in the U.S. District Court for the Southern District of Ohio of all 12 counts of fraud, conspiracy and money laundering. The jury had little uncertainty about Poulsen's responsibility for the fraud, which led to the collapse of hundreds of clinics and hospitals whose account receivables National Century purchased and collected at a profit.

While Judge Algenon...
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