A federal jury in Ohio on Friday convicted the former CEO of a failed health care financing company in a $1.9 billion fraud case that prosecutors likened to the Enron or WorldCom scandals.
Lance Poulsen, 65, founder of National Century Financial Enterprises, was accused of fabricating data, moving money between accounts to hide shortfalls and misleading investors who funded his business model.
He had been on trial for the past month on charges of securities fraud and money laundering. He was convicted on all 20 counts.
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