Search results
Results From The WOW.Com Content Network
Former HealthSouth investors had sued him seeking recompense for money lost due to the fraud of which Scrushy was acquitted in 2005. [59] While opposing counsel claimed Scrushy was a "hands-on manager who treated the company as a personal piggy bank," he continued to assign blame to his subordinates and maintain that he did nothing wrong. [ 59 ]
The 13-story structure, known informally as the "Digital Hospital", would be built in Birmingham on 19-acres of land adjacent to HealthSouth's corporate headquarters and serve as a replacement for its Southside medical center. Construction was halted two years later following an accounting scandal at the company. [28]
Not all accounting scandals are caused by those at the top. In fact, in 2015, 33% of all business bankruptcies were caused by employee theft. [ 14 ] Often middle managers and employees are pressured to or willingly alter financial statements due to their debts or the possibility of personal benefit over that of the company, respectively.
For premium support please call: 800-290-4726 more ways to reach us
Harken Energy Scandal [8] HealthSouth reporting exaggerated earnings; Hewlett-Packard spying scandal; Hospital Corporation of America [32] Homestore.com [10] KBC Bank human rights scandal [33] Kerr-McGee, the Karen Silkwood case; Kinney National Company financial scandal; Lernout & Hauspie accounting fraud; Lockheed bribery scandal in Germany ...
For premium support please call: 800-290-4726 more ways to reach us
Ideally, CFOs should approach the accounting process ethically, but there are currently two high-profile scandals with finance chiefs in the spotlight—but for different reasons. While one CFO ...
Martin led the prosecution of the $2.8B accounting fraud that occurred at HealthSouth, which netted the first conviction under Sarbanes-Oxley and 17 convictions of corporate officers for various frauds and FCPA violations.