Five guilty of fraud in healthcare finance

New York Times, March 14, 2008

A federal jury convicted five former executives of National Century Financial Enterprises, a healthcare finance company, in a $1.9 billion scheme to defraud investors. National Century Financial Enterprises was described as the nation's largest healthcare financing firm before its 2002 bankruptcy. The five executives were convicted of conspiracy to commit wire and securities fraud. Prosecutors argued National Century executives authorized millions of dollars of unsecured loans to those healthcare providers, then misled investors about the loans.