Monday, June 29, 2009

Richard Scrushy, Former HealthSouth Exec, Ordered To Pay $2.9 Billion

Richard Marin Scrushy, 56, currently serving a 7 year sentence for bribery, was ordered last week by an Alabama court to pay $2.88 billion to investors of Birmingham, Alabama-based HealthSouth Corporation, the rehabilitation company he ran as Chairman & CEO. Scrushy and the company was the subject of a massive accounting fraud investigation. In the order issued Thursday, the Judge stated that Scrushy "knew of and participated in" the faked reports filed with regulators from 1996 to 2002.

Read the story here and here.

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