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Sarbanes-Oxley News & Developments
Five ex-HealthSouth Officials Receive SentenceOne former executive was sentenced to 5 months in prison and four others received probation.
> > All five former HealthSouth executives said they took part in the scheme to inflate earnings out of fear of losing their jobs, and all five got reduced sentences from US District Judge Inge Johnson for their help in the investigation. Former assistant controller Emery Harris, facing a maximum of 15 years in prison and $1.5 million in fines, was sentenced to 5 months in prison, another 5 months of home detention, ordered to forfeit $106,500 and fined $3,000. Former corporate vice presidents Angela C. Ayers, Cathy C. Edwards and Rebecca Kay Morgan, and Virginia B.Valentine, a former assistant vice president, were sentenced to 4 years probation, including 6 months of home detention, and fined $2,000. Morgan also was ordered to forfeit $235,000.
Each had faced maximum sentences of 5 years in prison and fines of $250,000.
The 5 were the first sentenced in the fast-moving corporate corruption case in which 15 former executives agreed to plead guilty.The government contends earnings were inflated by $2.7 billion in a systematic fraud.
Source: Hoovers
Published:2003-12-10
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