Barely a week after a federal jury found HealthSouth founder Richard Scrushy not guilty of participating in a massive accounting fraud, the Securities and Exchange Commission was preparing civil charges against the former chief executive.

Scrushy was the first CEO charged under the Sarbanes-Oxley Act, and had faced 36 counts of fraud, false corporate reporting and making false statements to regulators after prosecutors said that he led a $2.7 billion earnings overstatement at the medical services company beginning in 1996.

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