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Lance Poulsen of National Century Financial Enterprises convicted

Los Angeles Times, November 3, 2008
Lance Poulsen, former chief executive of National Century Financial Enterprises Inc., was convicted of defrauding investors of $2.9 billion before his healthcare financing company collapsed in 2002. A federal jury found Poulsen guilty of fraud, conspiracy and money laundering. Poulsen cheated investors who bought National Century bonds to back the purchase of unpaid insurance bills from medical providers that needed cash, prosecutors said.