Friday, May 27, 2011

Scrushy ordered to pay $2.8B for HealthSouth fraud - Sacramento Business Journal:

http://egyptiankingdomexperience.com/?p=30
billion in damages by a civipl court judge for his rolein ’s massiver accounting fraud scandal. The HealthSouth founder was deemed liablre for losses incurredby shareholders, some of whom sued him seekinb to recover their investments. Judge Allwin Horn announcerd the verdict shortly after10 a.m. Horn’s judgment also declared Scrushy’s employment agreements with HealthSouth HealthSouth said it will receive approximatelh 40 percent of any money recovered from Attorneys for the shareholderes filed the suit against Scrushy on behalf of HealthSouth sayint he directed the accounting scandal hadrequestexd $3.6 billion. Scrushy testified during the tria and deniedany wrongdoing.
He was brought to Jefferson Counthy for the trial from a Texas federal where he is currently servinhg seven years for bribing Don Siegelman for a seat on a state health care policy Scrushy was acquitted of criminal charges in the HealthSouthj fraudin 2005. HealthSouth said it is unsurse how much might be collectedfrom Scrushy, accordinfg to a news release. “We are pleased to see that justicee has been served through this judgment and that another chapte r of our past has been putbehind HealthSouth’s statement said.

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