Read the latest news relating to investor claims and broker fraud.

Ohio Fugitive Arrested in Mexico and Returned to Serve Sentence

Rebecca Parrett, a fugitive since March of 2008, was arrested in Mexico and extradited to the United States on Oct. 27, according to an Oct. 28 article by The Associated Press. Parrett had been on the run since her 2008 conviction on charges of securities fraud and wire fraud in connection to a $2.8 billion investment scheme perpetrated at Dublin, Ohio health care financing company National Century Financial Enterprises (NCFE).

According to an Oct. 27 DOJ press release, prior to filing for bankruptcy in 2002 as a result of fraudulent activity, NCFE was one of the largest healthcare financing companies in the nation. Due in whole or in part to NCFE's collapse, 275 healthcare providers were forced to file for bankruptcy as well.
Parrett was the former vice chairman, secretary, treasurer, director and owner of the company. From 1995 through 2002, Parrett and other NCFE executives made false representations to investors and rating agencies about the financial health of the company and about how investors' money would be used.

Though she was already on the run by her sentencing date, Parrett was sentenced to 25 years in prison in absentia on March 27, 2009. She was also ordered to forfeit $1.7 billion in property and pay restitution in the amount of $2.3 billion. In addition to Parrett's conviction, nine other executives either pled guilty or were convicted on charges related to the NCFE investment scheme.

"The U.S. Marshals Service has followed all leads and devoted countless hours to the search for Parrett. Their persistence has led to her arrest. Now she will finally face justice," said U.S. Attorney Stewart, as quoted by the DOJ press release.

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