2 re-sentencings ordered in $1.9B Ohio fraud case
COLUMBUS, Ohio (AP) — A federal appeals court on Wednesday ordered new sentences for two former National Century executives convicted in a $1.9 billion corporate fraud case once likened to the Enron scandal, saying the government had proved some but not all of its case.
A three-judge panel of the 6th U.S. Circuit Court of Appeals in Cincinnati overturned Donald Ayers' conviction of conspiracy to commit money laundering, and Roger Faulkenberry's conviction of money laundering and conspiracy to commit money laundering, saying the government didn't provide enough proof.
Remaining in place are Ayers' convictions of conspiracy to defraud the U.S. and securities fraud, and Faulkenberry's convictions of conspiracy to defraud the U.S., securities fraud and wire fraud.
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