Probation officer gives office BJ to boot-camp teen
Fugitive Watch: Rebecca Parret's Sister Helps Her Escape in $1.9 Billion Fraud Case
Monday, March 8, 2010 at 8:00 am
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| Rebecca Parrett was sentenced to 25 years in prison for one of the largest corporate fraud schemes in America. |
But looks are very deceiving, apparently.
Parret had been working for National Century, a company based in Columbus, Ohio that offered financing to small hospitals and nursing homes. It helped keep health care providers out of bankruptcy by buying up their accounts receivable -- usually 80 to 90 percent on the dollar -- so they wouldn't have to wait for insurance payments to come through. Then, National Century would collect the full amount of those payments for a pretty profit.
The company financed itself by selling bonds to investors. The problem was that the company was making millions of unsecured loans and then lying to investors about it. Meanwhile, the company's top executives -- including Parret, who was a vice chairman -- were raking in millions through laundering cash and conspiracy.
But in 2002, the FBI finally caught on to the company's scam and raided its office. Soon thereafter, the company declared bankruptcy and all of National Century's top executives were facing serious federal charges in a $1.9 billion corporate fraud scheme. It was the largest case of fraud at a privately-held company in the history of the United States.
In 2008, Parrett was just one of five executives who was sentenced to more than 25 years in federal prison for wire and securities fraud, money laundering, and conspiracy.
But while Parrett's colleagues headed off to serve their sentences, Parrett did not. In fact, she wasn't even at the sentencing hearing. Anticipating a long stint in Club Fed, she disappeared abroad instead.
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| In return for helping her sister evade prison time, Linda Case now faces 10 years or more herself. |
The authorities questioned Linda Case as to her sister's whereabouts. Case claimed she had absolutely no idea. Costa Rica, maybe? Nicaragua? she told police. But it soon became apparent that she not only knew where her sister was hiding, she helped her get there.
About eight months ago, the feds began tapping Case's email hoping that Parrett would get in touch. And she did. A lot. The two sisters not only discussed Parrett's early escape plan, but also plans for Case to come join Parrett in Mexico.
In one email, Parrett suggested that her sister raise funds for the trip by taking out a second mortgage on her house -- the biggest she could get -- and then pocket the cash and run. Shortly after that email, Case purchased an RV with plans to drive it across the border in McAllen, Texas. She was gonna bring along her seven cats and dog. Her plan was to arrive on Valentine's Day.
Unfortunately for Case, she never made it to see her sister. Last month, FBI agents arrested her at her Grove City, Ohio home on charges of obstructing justice and making false statements. Each charge carries a maximum of five years.
But whatever Case was willing to sacrifice for her sister, it appears that the dedication doesn't go both ways. While Case sits in custody, awaiting her hearings, her sister is still nowhere to be found. She hasn't returned to offer herself in her sister's place or at least serve her well-earned time alongside her.
Police say that while they assume she's in Mexico, they still have no clear idea as to her whereabouts.
See last Monday's Fugitive Watch: Larry Deffenbaugh, Maryland Preacher Who Faked His Death, Found In Texas.
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