Friday, August 8, 2008

Money Launderer gets 12 years in prison

Yesterday, Randolph Speer, former CFO of now bankrupt National Century Financial Enterprises, was sentenced to 12 years in prison for his role in the fraud at the company. This story was reported at He was the CFO from 1999-2002. The co-founder and former vice chairman, Donald Ayers, was sentenced to 15 years in prison. These two as well as three other executives were responsible for laundering $2.9 billion from investors in this healthcare financing company. All were placed in jail in April after a plot to flee the country to Aruba was foiled by prosecutors.

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