Evidence was presented at trial in February 2008 that the defendants engaged in a scheme to deceive investors and rating agencies about the financial health of NCFE and how investor monies would be used . Between May 1998 and May 2001 , NCFE sold notes to investors with a combined value of $ 4.4 billion , which evidence showed were actually worth approximately six cents on the dollar at the time of NCFE 's bankruptcy in November 2002 .