NCFE threads

SG on March 4, 2009 at 12:40 pm said:

Healthcare Finance Fraud?
Who is R Scott? He was Richard Rainwater’s partner before GW BUSH was.
ALL of Richard Scott’s Columbia Homecare Group’s units were in the MASSIVE FRAUD uncovered at the nation’s largest financial fraud case in our history that just ended December 2008. 12 EXECUTIVES were found guilty-ONE was acquitted. Guess who that was? The ex- CFO at Scott’s baby-Columbia Homecare Group, prior to arriving at NCFE.
I wonder, can any of you brilliant reporters connect the dots? I doubt it!
“This case is one of the largest corporate fraud investigations involving a privately held company headquartered in small town America,” said …of the FBI Criminal Investigative Division.
JPMORGAN CHASE and CITI PAID GOVERNMENT SETTLED AGREEMENTS FOR FRAUD in National Century Financial Enterprises, Inc.
JULY 10, 2007 – SUPERSEDING INDICTMENT CHARGES EIGHT FORMER EXECUTIVES OF HEALTH CARE FINANCING COMPANY WITH CONSPIRACY, FRAUD, MONEY LAUNDERING
At trial, the government presented evidence that the defendants engaged in a scheme to deceive investors and rating agencies …between May 1998 and May 2001.
SEC: May 1998 James K Happ was the CFO of the Dallas-based Columbia Homecare Group, Inc. (Richard Rainwater’s). In ’98 & ’99 NCFE financed this divestiture to Medshares, Inc. in Memphis, TN.
July 1999, Medshares, Inc. filed the LARGEST Bankruptcy case in the history of Western TN’s bankruptcy court; ALL of the NCFE financed Columbia Homecare Group, Inc.’s divestiture months earlier. In this court, lawyers cried fraud; the JUDGE forbade the ‘F’ word in her court.
February 21, 2008 – COLUMBUS, Ohio (AP) – A guilty executive told jurors she told investors “absolutely nothing” about National Century’s practices of advancing cash to Memphis, Tenn.-based Medshares,…
December 18, 2008 – National Century fraud case produces 1st (AND ONLY) acquittal
Prosecutors’ case fell short, juror says
By Jodi Andes THE COLUMBUS DISPATCH