The trial of Lance Paulsen, the alleged mastermind of a scheme to defraud investors of health care receivables bonds, has been pushed back to October 1, according to a report by the Columbus Dispatch.
Paulsen, who was convicted in March of trying to bribe a federal witness in the case, was set to stand trial on August 4 in U.S. District Court in Columbus (“NCFE Founder Paulsen Guilty in Bribery Trial,” March 27). But his attorneys said they needed more time to review boxes of documents the Securities and Exchange Commission used in ruling that JPMorgan Chase was partially to blame for the collapse of National Century Financial Enterprises. When the Dublin, Ohio-based company collapsed in 2002, investors lost nearly $2 billion and at least 275 health-care providers went bankrupt.
According to the Columbus Dispatch report, Chase Bank and Bank One, which later merged into JPMorgan Chase, served as trustee banks for NCFE’s programs.
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