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Richard M Scrushy

BUSINESS
April 24, 2007 | From the Associated Press
Fired HealthSouth Corp. Chief Executive Richard Scrushy agreed to pay $81 million to settle a Securities and Exchange Commission lawsuit blaming him for a $2.7-billion accounting fraud at the healthcare services firm. The settlement was approved by a federal judge Monday. Scrushy admitted no wrongdoing but agreed to give up $77.5 million the government said he gained from the scheme. He agreed to pay an additional $3.5 million in civil penalties.
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BUSINESS
August 19, 2005 | From Bloomberg News
A federal judge on Thursday rejected a request by HealthSouth Corp. founder Richard Scrushy to throw out a Securities and Exchange Commission lawsuit and instead told the agency to refile by Sept. 7. U.S. District Judge Inge Johnson issued the order after a closed-door conference in Birmingham, Ala. The SEC sued Scrushy in March 2003 after the discovery of a $2.7-billion accounting fraud at HealthSouth Corp., a major operator of rehabilitation hospitals.
BUSINESS
May 4, 2005 | From Associated Press
HealthSouth Corp. auditors assumed former Chief Executive Richard Scrushy had a good understanding and overwhelming control of what was going on at the company, a former auditor testified Tuesday at the fired chief executive's corporate fraud trial in Birmingham, Ala. James Lamphron of Ernst & Young testified that Scrushy signed a letter to auditors guaranteeing the validity of 2001 financial statements that later were found to be fraudulent.
BUSINESS
February 2, 2005 | From Associated Press
Fired HealthSouth Corp. Chief Executive Richard Scrushy actively orchestrated and participated in a scheme to overstate earnings at the rehabilitation giant, a former finance chief testified Tuesday. Bill Owens, who served as HealthSouth's chief financial officer and secretly recorded talks with Scrushy for the FBI in 2003, painted his onetime boss as a micromanager who oversaw everything from major acquisitions to who parked where at headquarters.
BUSINESS
January 5, 2006 | From Associated Press
HealthSouth Corp.'s ousted chief executive, Richard Scrushy, must repay more than $47 million in bonuses he received while running the medical rehabilitation chain amid a huge fraud, despite being acquitted in the scheme, a judge ruled. Combined with as much as $265 million in refunds the company is seeking from the federal government for taxes it paid on overstated income during the fraud, the court-ordered repayment could help shore up the finances of HealthSouth. Scrushy plans to appeal.
BUSINESS
July 21, 2005 | From Bloomberg News
Richard Scrushy, acquitted last month on charges that he led a $2.7-billion accounting fraud at HealthSouth Corp., turned over $17 million in cash to the company he helped found to satisfy a judgment by a Delaware court, his lawyer said Wednesday. The judgment stems from Scrushy's use of HealthSouth stock in 2002 to repay a $25.2-million company loan.
BUSINESS
May 25, 2005 | From Associated Press
Jurors in the corporate fraud trial of fired HealthSouth Corp. Chief Executive Richard Scrushy told the judge Tuesday that they couldn't reach a verdict and needed an explanation "in layman terms" of a key conspiracy count. In messages to U.S. District Judge Karon Bowdre on the fourth day of deliberations, the jury said her instructions seemed contradictory regarding the conspiracy count, which encompasses allegations of fraud, false corporate reporting and false statements to regulators.
BUSINESS
December 16, 2005 | From Bloomberg News
HealthSouth Corp. founder Richard Scrushy, who was cleared of orchestrating a $2.7-billion fraud at the company, sued HealthSouth for $70 million that he said he was owed in severance pay and bonuses. The lawsuit filed in Jefferson County, Ala., says that under a 2002 employment agreement, Scrushy is entitled to the pay after being acquitted in June of accounting fraud charges, Scrushy spokesman Charlie Russell said. Scrushy was fired from the company in March 2003 and quit the board Dec.
BUSINESS
May 16, 2005 | From Times Wire Services
For all the dozens of witnesses who testified for and against Richard Scrushy during his fraud trial, the fate of the fired HealthSouth Corp. chief executive may hang on whether jurors believe just a handful. Prosecutors built their case around five former HealthSouth finance chiefs who pleaded guilty to participating in a $2.7-billion fraud and who all -- with varying degrees of detail -- told jurors that Scrushy was in deep too. One of them, Bill Owens, even wore a wire for the FBI.
BUSINESS
March 11, 2004 | From Associated Press
Fired HealthSouth Corp. Chief Executive Richard Scrushy filed a complaint accusing prosecutors of misconduct in the probe that led to federal fraud charges against him in connection with a massive accounting scandal. Attorneys for Scrushy said prosecutors and investigators withheld evidence showing Scrushy's innocence during a hearing last year, including comments he made during a conversation secretly recorded by a former HealthSouth financial chief. The complaint was filed against U.S. Atty.
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