Appeals court overturns executive’s money laundering conviction in $1.9B Ohio fraud case

Resentencing ordered in $1.9B Ohio fraud case

COLUMBUS, Ohio — A federal appeals court has ordered an executive convicted in a $1.9 billion corporate fraud case to be resentenced.

The 6th U.S. Circuit Court of Appeals in Cincinnati said Wednesday the government hadn’t proved Roger Faulkenberry was guilty of money laundering. His convictions of conspiracy, securities fraud and wire fraud remain in place.

Faulkenberry is serving 10 years in prison. He was convicted in 2008 with five other top executives from National Century Financial Enterprises, a Columbus health care financing company. Federal prosecutors likened the case to the Enron scandal.

The court said the government didn’t prove a $22 million advance to a medical company handled by Faulkenberry was designed to conceal the money’s source.