Investments

Bank Of America Investment By Jim Kouri

Here in Colorado, as in many states, credit card fraud is considered a misdemeanor unless the actual dollar value of the loss (cost of goods in the merchant's case) reaches $400. From $ $15, 000 the crime is considered a Class 4 Felony. Above $15, 000 the crime is a Class 3 Felony. Admittedly, many police departments simply do not have the manpower to dedicate a detective to misdemeanor crimes and the cases are closed leaving the merchant holding the bill.

Investment Opportunity (AXcess News) New York - A federal grand jury in Ohio has indicted seven former executives of National Century Financial Enterprises (NCFE), on charges of conspiring to defraud investors by lying to them and others about how the investors' funds would be used, diverting the funds, and then hiding the shortfall by moving money back and forth between subsidiaries' bank accounts and creating phony reports and records to cover up the scheme. The indictment which was returned May 19 was unsealed on May 22.

Be persistent! Try all your options. The first thing you can do if you become a victim of credit card fraud is call the police to report the crime. Be aware, however, that until you're left holding the tab for the crime, you're not considered the victim, the cardholder is. If you're trying to stay ahead of the game and you're not sure yet who will ultimately be responsible for the lost dollars, you need to contact the cardholder.

Banc Of America Investment The 60-count indictment charges conspiracy, securities fraud, wire fraud, mail fraud and money laundering. The indictment also seeks approximately $2 billion in forfeiture of property involved in the money laundering conspiracy.

Almost $700 may not seem like a lot of money to you, but to an Enron exec it could mean the difference between a vacation spent in DC, golfing in Florida and a Mediterranean cruise. For you, seven hundred dollars is nothing more than rent, a car note or mortgage payments. But to an Enron exec $700 will almost replace his per diem. Your commitment of less than $700 a day will enable an Enron exec to buy that home entertainment center, old Lexus for a new Ferrari, or enjoy a weekend in Rio.

Banking Investment The federal prosecutor alleges that instead of using the investors' funds as they promised, the suspects diverted funds to make unsecured advances and loans to healthcare companies owned by NCFE or its principal shareholders, Lance Poulsen, Rebecca Parrett and Donald Ayers.

Some police departments will be more helpful than others. Find out the parameters of your state law concerning issues of credit card fraud. In some states, all credit card fraud is considered a felony and the crime is taken more seriously. You may be lucky to find a police department that has a detective dedicated to crimes involving credit card fraud. Such was the case in an incident involving a teenager. Although, I never sent the product, we were still able to get some justice for the crime. And hopefully, he will be one credit card crook who learned his lesson early and won't do it again. In a case like this, you may or may not recover your lost merchandise, but at least you've done your part to help put an end to the crime.

Investment Solution Strategic Those named in the indictment are:
Lance K. Poulsen, age 62, now residing in Port Charlotte, Florida. Poulsen served as President, Chairman and a Director of National Century from its inception in 1991. Poulsen was responsible for the overall marketing, funding and operation of National Century and its subsidiaries. In addition, Poulsen was an officer, director and owner of at least six related entities. Poulsen is charged with 1 count of conspiracy, 6 counts of securities fraud, 11 counts of mail fraud, 14 counts of wire fraud, 1 count of money laundering conspiracy, 7 counts of promotion of money laundering, and 7 counts of concealment of money laundering.

Identity fraud is a very serious crime that costs Australians over $2.2 billion dollars a year, so keeping your credit file in check is the most effective way to safeguard yourself against this. With some companies it is possible to be notified every time there is a change on your credit file. This way you can keep a close eye on your file at all times and minimise the risk of identity theft.

Investment Banking Services Rebecca S. Parrett, age 57, now residing in (ironically) Carefree, Arizona, was the Vice Chairman, Secretary and Treasurer, director and owner of National Century and certain of its affiliates. Parrett was responsible for providing instruction on disbursing funds, preparing reports for National Century and other duties. Parrett is charged 1 count of conspiracy, 6 counts of securities fraud, 11 counts of mail fraud, 10 counts of wire fraud, 1 count of money laundering conspiracy, and 7 counts of promotion of money laundering.

Bank Investment Donald H. Ayers, age 70, now residing in Fort Myers, Florida, was the Vice Chairman and Chief Operating Officer for National Century. Ayers is charged with 1 count of conspiracy, 6 counts of securities fraud, 11 counts of mail fraud, 9 counts of wire fraud, 1 count of money laundering conspiracy, and 7 counts of promotion of money laundering.

Alternative Investment Roger S. Faulkenberry, age 45, now residing in Dublin, Ohio, was the National Century's Director of Securitizations from 1994 until December 2000. Faulkenberry served as the point of contact with the rating agencies responsible for evaluating the soundness of National Century's investments. Faulkenberry is charged with 1 count of conspiracy, 6 counts of securities fraud, 11 counts of mail fraud, 10 counts of wire fraud, 1 count of money laundering conspiracy, and 2 counts of concealment of money laundering.

Online Investment Services Randolph H. Speer, age 55, now residing in Peachtree City, Georgia, who has at various times served as National Century's Chief Financial Officer and Executive Vice President. Speer is charged with 1 count of conspiracy, 3 counts of securities fraud, 11 counts of mail fraud, 13 counts of wire fraud, 1 count of money laundering conspiracy, 7 counts of promotion of money laundering, and 6 counts of concealment of money laundering.

Accompany Essential Investment James E. Dierker, age 38, now residing in Powell, Ohio, was National Century's Vice President in charge of client development from January 1999 until January 2001. Dierker is charged with 1 count of conspiracy, 11 counts of mail fraud, 9 counts of wire fraud, 1 count of money laundering conspiracy, and 3 counts of concealment of money laundering.

Investment Company Jon A. Beacham, age 39, now residing in Grosse Pointe, Michigan, was the Director and Vice President of Securitizations from about January 2001 until National Century collapsed in November 2002. Beacham is charged with 1 count of conspiracy, 6 counts of securities fraud, 11 counts of mail fraud, 12 counts of wire fraud, and 1 count of money laundering conspiracy.

Investment Management Solution "An exhaustive investigation by the FBI, IRS, Postal Inspectors and Immigration and Customs Enforcement agents found evidence that the company executives bilked investors by building a financial house of cards with deception, sleight-of-hand financing, and accounting misdeeds," said an FBI official.

Investment Management Services "There is no room in the business world for the kind of multi-billion dollar fraud and money laundering alleged in the indictment against these National Century executives."

Guide Investment Stock The Dublin, Ohio based company bought medical accounts receivable from health care providers around the country, then financed the purchases by selling securities in the form of notes to large institutional investors outside Ohio. In their promotional materials, NCFE billed themselves as the "nation's leading supplier of working capital to the medical industry." The company collapsed in November 2002.

Investment Manual Solution According to the indictment, National Century operated as a financial service holding company. Through its subsidiary corporations, such as NPF VI and NPF XII, the company bought accounts receivable from hospitals, nursing homes and other health care providers and medical concerns. The subsidiaries would issue health care receivables securitization program notes. National Century employees would sell these securities in private placements, promoting them as conservative and safe investments.

Investment Stock According to the indictment, NCFE executives diverted the money into other companies they owned, used some of the money for operating expenses for NCFE, and provided unsecured advances and loans to clients, third parties and others.

Essential Investment Solution The indictment alleges that the defendants conspired to conceal cash shortages from investors and trustees by using carefully timed transfers of funds back and forth between companies. In one such instance, on January 2, 2002, the defendants ordered $148 million moved into one of their subsidiaries so the investments would appear sound. The next day, they moved the $148 million back to create the same appearance for another subsidiary.

Citicorp Investment Services According to the indictment, the defendants prepared and distributed false financial reports to hide their actions from investors and trustees. Investigators found reports marked "NPF VI Reported" and "NPF VI Actual" and other similar documents when analyzing company records seized by FBI agents from National Century's headquarters in November 2002.

Fool Guide Investment Motley The maximum penalty for each count of money laundering and money laundering conspiracy is 20 years imprisonment and a $500,000 fine. The conspiracy to violate statutes of the United States, and each count of wire fraud, mail fraud and securities fraud carries a penalty of five years imprisonment and a $250,000 fine. Two of the wire fraud charges and five of the mail fraud charges each carry a penalty of up to 20 years imprisonment because of the law that was in place when the crimes were allegedly committed.

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