Jon Beacham Former executive of National Century Financial Enterprises, a health care financing company, a crucial witness in a $1.9 billion fraud
Former executive of National Century Financial Enterprises, a health care financing company, who was a crucial witness in a $1.9 billion corporate fraud case was sentenced to two years in prison. The witness, Jon Beacham, left, had cooperated with investigators and received the lowest sentence of anyone sentenced to date for involvement in misleading investors. National Century declared bankruptcy in 2002 after the Federal Bureau of Investigation raided its offices. Mr. Beacham, 42, met with prosecutors as they tried seven defendants last year. Six were convicted.
Mr. Beacham, National Century’s former vice president of securitizations, pleaded guilty in July 2007 to conspiracy and fraud charges.
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December 18, 2008 - The ONE AND ONLY acquittal; By Jodi Andes THE COLUMBUS DISPATCH ; Prosecutors' case fell short, juror says National Century fraud case produces 1st acquittal ; The "not guilty" verdicts that came in federal court yesterday were not so much a vindication of the last National Century Financial Enterprises executive to stand trial, a juror said.
Instead, they were more a belief that federal prosecutors had not done their job, the juror said after he and his fellow jurors acquitted James K. Happ of five counts after 12 hours of deliberation. "He very well may have been guilty. A lot of us thought he was," said the juror who wouldn't give his name. "But if he was, you gotta have the evidence."
July 26, 1997- Where was James K Happ?
SEC Form September 9, 2003 Annual Meeting of Stockholders, Med Diversified Inc.:
Previously, Mr. Happ served for three years as executive vice president of NCFE, during which time he restructured the servicer department to improve operational performance and accelerated the utilization of technology to increase operational efficiency.
Mr. Happ also served as chief financial officer of the Dallas-based Columbia Homecare Group, Inc.,
… In this role, he directed the company through the challenging reimbursement climate, known as the interim payment system, and participated in the divestiture of all of Columbia/HCA's home care operations
Who purchased the majority of this divestiture in late ’98 & early ’99? Medshares, Inc. of Memphis, Tennessee. Who financed this divestiture? National Century Financial Enterprises, Inc.
Sherry Gibson pleaded guilty in 2003 to a lesser charge of securities fraud in exchange for helping prosecutors. Gibson told jurors she told investors "absolutely nothing" about National Century's practices of advancing cash to Memphis, Tenn.-based Medshares, a home-health care provider… July 30, 1999 MEDSHARES INC: Health Care Services Provider Files Chapter 11
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