In anticlimactic news, former HealthSouth chief executive Richard Scrushy will pay $81 million to settle civil charges brought by the Securities and Exchange Commission.While SEC spokespeople have said that the amount of the deal is among the most expensive for an executive settlement, a federal judge ruled that the judgments in three other civil cases brought against Scrushy could count as a $71.5 million credit toward the disgorgement to the SEC.
As part of the deal, Scrushy neither admitted nor denied accusations that he bears responsibility for HealthSouth’s $2.7 billion accounting fraud, though he will be barred from serving as an officer or director of a publicly traded company for five years.
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