Executives of failed health care financing company National Century Financial Enterprises defrauded investors of $1.9 billion and took part in a "massive cover-up" to hide their dealings, the government said in opening arguments of a federal trial on Thursday. The government accuses the company's executives of misdirecting payments and then making up numbers and loading false data on computer systems to hide their tracks, while moving money between subsidiaries to make them appear healthy.
February 08, 2008 at 12:00 AM
1 minute read
The original version of this story was published on National Law Journal
Executives of a failed health care financing company defrauded investors of $1.9 billion and took part in a “massive cover-up” to hide their dealings, the government said in opening arguments of a federal trial in Columbus, Ohio, on Thursday.
Attorneys for two former owners and three senior executives of National Century Financial Enterprises denied the allegations before jurors at the outset of their trial for one of the largest alleged white-collar crimes after Enron or WorldCom.
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