Tuesday, November 13, 2007

NCFE president loses law team

The former president of the defunct National Century Financial Enterprises Inc. is for the time being facing criminal charges without legal representation.

Lawyers for Lance K. Poulsen, a founder of Dublin-based NCFE, were allowed by U.S. District Court Judge Algenon L. Marbley Nov. 2 to end their representation of the indicted executive. Thomas M. Tyack and James P. Tyack from Tyack Blackmore & Liston Co. LPA requested the discharge.

"Certain events relating to allegations of activities of Mr. Poulsen, including his arrest for a charge of obstruction of justice, have occurred since Oct. 17, 2007," the attorneys wrote to the court. "It has become apparent that in fact, as a result of the allegations raised and the circumstances surrounding thereto, counsel are in a position of being in a conflict of interest with Mr. Poulsen."

Neither lawyer was available for comment.

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