Judge Orders Former HealthSouth Chief to Pay $2.8 Billion to Shareholders
Posted Jun 18 2009 10:44pm
In the case he was acquitted of criminal charges, but the civil penalty is due and payable. When I read stories of such it really does begin to settle in to my mind how closely related Wall Street and Healthcare seem to be. BD
BIRMINGHAM, Ala. (AP) -- An Alabama judge has ordered former HealthSouth CEO Richard Scrushy to pay about $2.8 billion to shareholders due to accounting fraud at the rehabilitation chain.
Circuit Judge Allwin E. Horn ruled Thursday in favor of HealthSouth shareholders who filed a lawsuit claiming Scrushy was involved in a massive accounting fraud that nearly sent the company into bankruptcy.
Scrushy was acquitted in a federal criminal case over the fraud and testified in the state civil case that he knew nothing about it
In the case he was acquitted of criminal charges, but the civil penalty is due and payable. When I read stories of such it really does begin to settle in to my mind how closely related Wall Street and Healthcare seem to be. BD
Judge Orders Former HealthSouth Chief to Pay $2.8 Billion - NYTimes.com