Re-sentencings for 2 in $1.9B Ohio fraud case

AP News
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Posted: Oct 22, 2010 7:19 AM
Re-sentencings for 2 in $1.9B Ohio fraud case

A federal judge in Ohio is set to re-sentence two former health care financing executives convicted in a $1.9 billion corporate fraud case.

A federal appeals court in Cincinnati earlier this year said the government hadn't proved money laundering charges against Donald Ayers and Roger Faulkenberry.

That July ruling left in place convictions of conspiracy to defraud the U.S., securities fraud and wire fraud.

The government says Columbus U.S. District Court Judge Algenon Marbley should not reduce Ayers' 15-year sentence or Faulkenberry's 10-year sentence at a hearing Friday.

Defense attorneys say sentences for the two former National Century Financial Enterprises executives should be reduced because the penalty for each conviction should be considered separately.