Hospital Debt Buyers Convicted of Fraud and Money Laundering

A federal jury took less than two days to convict five former executives of National Century Financial Enterprises of a scheme to deceive investors about the company’s financial health and the use of their funds.

Donald H. Ayers, Rebecca S. Parrett, Randolph H. Speer, Roger S. Faulkenberry, and James E. Dierker, were found guilty late Thursday of wire fraud, securities fraud, money laundering and conspiracy in a case the U.S. Department of Justice likened to the Enron and WorldCom scandals. The Justice Department said the executives defrauded investors out of nearly $2 billion and caused at least 275 companies to go out of business.  The five face maximum prison sentences ranging from 55 to 140 years in prison. Sentencing is expected in three months.