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Health South CEO Indicted on Fraud Charges

HeadlineNov 05, 2003

In business news, the CEO of Health South, one of the country’s largest health services company, was indicted yesterday on 85 counts. Prosecutors charge the CEO, Richard Scrushy, helped commit $2.7 billion in fraud. The Washington Post reports Scrushy used the money to buy a Lamborghini, a 92-foot yacht as well as paintings by Picasso and Renoir. He is believed to be the first top executive to be charged under the nation’s new corporate governance law.

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