No New Fraud Trial For National Century Founder

Law360, New York (June 10, 2009, 12:00 AM EDT) -- A federal judge has flatly denied former President of National Century Financial Enterprises and current inmate Lance Poulsen’s bid to vacate the 30-year sentence he received for engineering a massive $2.8 billion fraud scheme.

On Monday, Judge Algenon L. Marbley of the U.S. District Court for the Southern District of Ohio rejected Poulsen’s attempt to obtain a new trial, deeming the trial last October and its austere verdict entirely legitimate and procedurally sound.

This is the third time the court has mulled Poulsen’s claims for a...
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