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HealthSouth's Scrushy Acquitted
Jury Acquits Scrushy in HealthSouth Fraud Trial
Jay Reeves
The Associated Press
June 29, 2005
Jurors acquitted HealthSouth Corp. founder Richard Scrushy on Tuesday of all charges in a surprise setback for federal prosecutors who had scored victories over a string of big-name CEOs accused of fraud.
The case against Scrushy, involving a $2.7 billion earnings overstatement at the rehabilitation and medical services chain he created and ran, had been widely considered among the strongest. He was the first CEO charged under the Sarbanes-Oxley corporate reporting law.
Yet when it finished 21 days of deliberations, the jury decided to acquit Scrushy of all 36 counts of fraud, false corporate reporting and making false statements to regulators.
Full article can be found here.
Go visit mi amigo, Peter Henning over at the White Collar Crime Professor's Blog for insight into how this bullet-dodging fits into the current landscape of high-profile executive prosecutions and what Scrushy's acquittal means for HealthSouth.
-- MDTLabels: 2006, Health South, Peter Henning
