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OH execs sentenced in $1.9B healthcare lending fraud

Two former executives with defunct healthcare lender National Century Financial Enterprises have been sentenced to prison. Donald Ayers, former vice chairman of NCFE, was sentenced by a federal judge to 15 years in prison, while NCFE's former CFO Randolph Speer was sentenced to 12 years. In theory, Ayers could have gotten 55 years and Speer up to 125 years under federal sentencing guidelines. In addition to receiving prison sentences, the two were ordered to repay billions of dollars to investors, along with three other co-defendants who haven't been sentenced yet.

Ayers and Speer were convicted for their roles in a $1.9 billion corporate fraud, which some have compared to the Enron and WorldCom debacles. NCFE bought accounts receivable from providers and sold securities to investors to finance the acquisitions. According to prosecutors, the company paid unrealistic amounts for the provider receivables, which then were used as a questionable ground for its securities (largely, it should be noted, with cooperation from Wall Street). When the NCFE collapsed in 2002, its failure led to the bankruptcy of about 275 providers.

Ultimately, Speer earned more than $1.2 million during his time with NCFE, and Ayers more than $7.4 million during their time with the company, which offered financing to small hospitals, nursing homes and other providers by buying their accounts receivable. The judge has ordered Ayers and Speer to pay restitution of $2.4 billion and forfeiture of another $1.8 billion.

To learn more about the case:
- read this Associated Press article
- read this Modern Healthcare article

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rezko and obama buddies? 12 year buddies till rezko got caught

rezko gets $800,000 from Fm/fm(in chicago)(how much went to vegas? and/or other cities) and some how obama gets $125,000 in election funds

this is the stuff he now wants to stop? ya right
sen ried says the fm/fm shady deals are real bad in nevada(anything orlando jones had to do with it?)

then rezko gate starts, orlando jones investagated and then is found dead (some say he was silenced ?)

Jones left his position in county government to create a lobbying firm in association with Tony Rezko, who has been indicted on fraud charges.

Recent reports from Las Vegas also claim that he was the target of a federal investigation stemming from a hospital deal that he negotiated.

same thing livine and rezko has done in Chicago

At the center of the probe are the relationships between Thomas and his cronies from his tenure at a Hospital in Chicago. it's no surprise financial records from the same city may prove the cash flow between Thomas and his alleged co-conspirators.

investigators believe the former hospital chief and two Chicago businessmen -- Martello Pollock and Orlando Jones -- conspired to funnel lucrative hospital contracts to their Chicago companies.

POLLOCK, MARTELLO
CHICAGO,IL 60643 6/30/03 $1,000 Obama, Barack (D)
POLLOCK, MARTELLO E
CHICAGO,IL 60643 3/4/04 $500 Hynes, Daniel W (D)

Wonder if the Auchi Pizza chains in Wis explains Hynes?

The answer became apparent when Barack was elected to the U.S. Senate and Michelle's salary more than doubled.

Rezko established a typical Chicago 'pay for play' scheme, but one that crossed party lines. You want to build a hospital, you had to pay Rezko, who paid the appropriate people who could help you play. The problem that Rezko faced was the hospital board had fifteen members and that is a lot of people to bribe and a lot of loose ends. But then Rezko had a friend who chaired the Illinois Senate's Health and Human Services Committee.

Enter State Senator Barack Obama, who is credited as the moving force behind a piece of legislation (Il. Senate Bill 1332) that reduced the hospital board to nine people,from 15 MEMBERS to be appointed by Governor Rod Blagojevich (known as Gov. 'Blago') with advice and consent of the Illinois Senate.

Blago immediately appointed three physicians, Rezko cronies with similar Middle Eastern backgrounds, all of whom were coincidentally big contributors to Barack Obama. As they say downtown, Barack knows how to walk the Chicago Way. Rezko became the guy you saw if you wanted to build a health care facility. He controlled the board's votes.

Blago immediately appointed three physicians, Rezko cronies(Auchi-Perscription Drug Company Owner) with similar Middle Eastern backgrounds, all of whom were coincidentally big contributors to Barack Obama. As they say downtown, Barack knows how to walk the Chicago Way. Rezko became the guy you saw if you wanted to build a health care facility. He controlled the board's votes.

rezko and obama buddies? 12 year buddies till rezko got caught

rezko gets $800,000 from Fm/fm(in chicago)(how much went to vegas? and/or other cities) and some how obama gets $125,000 in election funds

this is the stuff he now wants to stop? ya right
sen ried says the fm/fm shady deals are real bad in nevada(anything orlando jones had to do with it?)

then rezko gate starts, orlando jones investagated and then is found dead (some say he was silenced ?)

Jones left his position in county government to create a lobbying firm in association with Tony Rezko, who has been indicted on fraud charges.

Recent reports from Las Vegas also claim that he was the target of a federal investigation stemming from a hospital deal that he negotiated.

same thing livine and rezko has done in Chicago

At the center of the probe are the relationships between Thomas and his cronies from his tenure at a Hospital in Chicago. it's no surprise financial records from the same city may prove the cash flow between Thomas and his alleged co-conspirators.

investigators believe the former hospital chief and two Chicago businessmen -- Martello Pollock and Orlando Jones -- conspired to funnel lucrative hospital contracts to their Chicago companies.

POLLOCK, MARTELLO
CHICAGO,IL 60643 6/30/03 $1,000 Obama, Barack (D)
POLLOCK, MARTELLO E
CHICAGO,IL 60643 3/4/04 $500 Hynes, Daniel W (D)

Wonder if the Auchi Pizza chains in Wis explains Hynes?

The answer became apparent when Barack was elected to the U.S. Senate and Michelle's salary more than doubled.

Rezko established a typical Chicago 'pay for play' scheme, but one that crossed party lines. You want to build a hospital, you had to pay Rezko, who paid the appropriate people who could help you play. The problem that Rezko faced was the hospital board had fifteen members and that is a lot of people to bribe and a lot of loose ends. But then Rezko had a friend who chaired the Illinois Senate's Health and Human Services Committee.

Enter State Senator Barack Obama, who is credited as the moving force behind a piece of legislation (Il. Senate Bill 1332) that reduced the hospital board to nine people,from 15 MEMBERS to be appointed by Governor Rod Blagojevich (known as Gov. 'Blago') with advice and consent of the Illinois Senate.

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