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Richard Scrushy: Health Care Company In The United States

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Richard Scrushy: Health Care Company In The United States
In 2003 the largest publicly traded health care company in the United States Health South was accused of inflating there earnings to meet stockholder expectations. This was done by their CEO Richard Scrushy. He inflated the number by $1.4 billion dollars and did it by tell underlings to make up number and transactions from 1996-2003. The reason he got caught is because he sold his stock totaling $75 million dollars right before the company post a huge loss. This is what triggered the SEC suspicions of the CEO of Health South. Richard Scrushy was acquitted of all thirty six counts of accounting fraud, but he did receive a seven year sentence for bribing the governor of Alabama. This caused Health South to have to find a new CEO. Health South
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