Ohio exec resentenced, gets 4 years in $1.9B fraud

AP News
|
Posted: Nov 30, 2011 7:15 PM
Ohio exec resentenced, gets 4 years in $1.9B fraud

The sentence of a former health care financing executive has been reduced from five to four years in a $1.9 billion corporate fraud case in Ohio that federal prosecutors likened to the Enron or WorldCom scandals.

U.S. District Judge Algenon Marbley in Columbus handed down the new sentence Wednesday for James Dierker, former vice president of client development at National Century Financial Enterprises.

The 43-year-old Dierker received the five-year sentence in 2008, the lightest handed down to several defendants in the case.

A federal appeals court overturned his money-laundering convictions earlier this year and ordered him resentenced on a remaining conviction of conspiracy to commit securities fraud and wire fraud.

Government prosecutors wanted the five-year sentence upheld, while Dierker's attorneys asked for a shorter term.