Fraud Catches Up to Ex-CEO

Judge orders Scrushy to pay $2.8B to shareholders

–Headline, The Associated Press (6/18/09)

An Alabama state judge just ordered Richard Scrushy, former CEO of HealthSouth, to pay shareholders billions in connection with fraud committed at the rehabilitation chain between 1996 – 2002.

Scrushy’s chutzpah extended to the courtroom: during one of his (many) previous trials, it was discovered that Scrushy had made large contributions to several jurors’ Birmingham churches.

If the same legal timetable applies to Wall Street misconduct at the heart of today’s economic mess, you can expect to start seeing convictions and financial penalties meted out . . . around 2015.

About the author

Ross Kaplan has 19+ years experience selling real estate all over the Twin Cities. He is also a 12-time consecutive "Super Real Estate Agent," as determined by Mpls. - St. Paul Magazine and Twin Cities Business Magazine. Prior to becoming a Realtor, Ross was an attorney (corporate law), CPA, and entrepreneur. He holds an economics degree from Stanford.

Leave a Reply