18. HealthSouth
Year: 2003
Approx. Amount: $2.7 Billion*
Company / Person Involved: Richard M. Scrushy
In the 6 years between ’96 and ’02, allegedly, HealthSouth doctored documents and company filings to the amount of, at least, $2.7 billion. To make matter worse, in the days leading up to HealthSouth reporting substantial losses, in 2002, for a completely unrelated reason, CEO Richard M. Scrushy happened to sell $75 million worth of his stock in the company.
HealthSouth ©Gary Tramontina / Gettyimages.com
Okay, it might not have been completely unrelated. In fact, it wasn’t unrelated at all. Richard Scrushy was charged with accounting fraud and almost 90 other charges. He ended up being sentenced to 6 years and 10 months in prison, fined $150, 000, and ordered to pay restitution to the United Way of Alabama in the amount of $267,000.