HealthSouth Whistleblower Weston Smith Shares Insider Story of $2.9b Fraud (Mar/Apr 2014)
What did HealthSouth sell?
After completing the deal, HealthSouth sold Horizon’s 139 long term care facilities, 12 specialty hospitals, 35 institutional pharmacies, and more than 1,000 rehabilitation therapy contracts to Integrated Health Services, Inc. In 1998 HealthSouth made two major acquisitions.
What happened to Richard Scrushy?
Scrushy is now a small business consultant working in the Houston area. After his release from prison, Scrushy also wrote the book “When Building a Billion Dollar Company: Here Are a Few Things to Think About,” a book designed to help others build and grow their businesses.
Who was the CEO of the corporate fraud scandal?
In 2003, the company got involved in a corporate fraud scandal, one that involved the fraudulent practice of cooking the account books, done on an incredible scale. To boost the reputation of the company, then CEO Richard Scrushy had his accountants make up numbers to boost the firms earning.
How big is the problem of corporate fraud?
Corporate and fraudster’s business profile. Corporate Ownership & Control, 15 (1-2 ), 467-475. 4.0). $3 trillion every year. It is a serious problem that, after a series of considerable attention. This essay reviews fraud concept and
What was the biggest fraud of the last two decades?
The Enron scandal is one of the biggest corporate frauds to have occurred in the last two decades. It involved Enron, a Houston-based energy and commodities company. Enron was considered to be so successful that the Forbes named it the most ‘innovative company’ for six straight years. And then in 2001 things rapidly fell apart.
Where does the money from corporate fraud go?
Much of the money illegally obtained through corporate fraud is often never recovered, after being spent long ago by the perpetrators. Corporate fraud consists of illegal, deceptive actions committed either by a company or an individual who is an employee of the company.
