 |
Sarbanes-Oxley News & Developments
Former HealthSouth VP Pleads GuiltyWill Hicks is the 14th HealthSouth executive to enter a guilty plea.
> > Will Hicks, the 14th executive from HealthSouth Corp., has pleaded guilty to fraud charges in an accounting scandal. Hicks, who was VP of investments at HealthSouth was responsible for managing its investment portfolio, was charged with conspiracy to make false statements to auditors and maintain false books and records.
Ira Lee Sorkin, attorney for Hicks, said that Hicks was ordered not to tell the auditors about the true value of an assisted living facility investment that HealthSouth had made. Sorkin said that Hicks feared for his job if he did not do this. As part of his pleas agreement, Hicks will cooperate with prosecutors.
So far, 14 HealthSouth executives - including all five former chief financial officers - have pleaded guilty to inflating the earnings and financial results at the operator of rehabilitation, diagnostic imaging and outpatient surgery centers.
Sentencing is scheduled for Jan. 15, 2004.
Source: CNN Money
Published:2003-09-02
|
|
