HealthSouth founder Richard Scrushy will pay $81 million to settle SEC claims

Posted on April 23rd, 2007

Richard Scrushy, founder of HealthSouth Corp. will pay $81 million to settle Securities and Exchange Commission claims. The payment includes $77.5 million in gains and a $3.5 million penalty, but he has already been credited with $71.5 million toward this for money he has already forfeited.

Scrushy was charged with accounting fraud and insider trading in 2003.? These charges were on hold during his criminal trial, which ended in acquittal on all 36 counts. He has supposedly incurred over $30 million in legal fees related to the fraud at HealthSouth.

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