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Sarbanes-Oxley News & Developments
Ex-HealthSouth CEO InditedRichard Scrushy pleads not guilty to all 85 counts in connection with alledged $2.7B corporate fraud scheme.
> > Former HealthSouth CEO Richard Scrushy was indicted on 85 criminal counts stemming from a $2.7 billion accounting fraud. The charges included conspiracy to commit fraud, filing false financial statements, money laundering and securities and wire fraud while he headed Birmingham, Ala.-based HealthSouth.
Scrushy, who founded HealthSouth, pleaded not guilty to all 85 charges and has denied that he felped inflate earnings or had any part in the accounting fraud. He has blamed the scandal on underlings.
In a 38 page indictment, Scrushy was accused of overseeing a scheme to deliberately inflate earnings and assets for HealthSouth by more than $2.5 billion over several years.
Source: CNN Money
Published:2003-11-04
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