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Richard M. ScrushyRichard M. Scrushy is the founder and former chairman and chief executive officer of the physical rehabilitation healthcare giant HealthSouth, based in Birmingham, Alabama. In 2003 he was accused of fraud by the Securities Exchange Commission for directing company officers to falsify financial records in order to have the company's earnings statements meet stockholder expectations. The trial is currently ongoing. Scrushy recognized the unfilled niche of the speciality healthcare services industry and founded HealthSouth in 1984 and became chairman and chief executive officer in 1994 when the company went public. The company had rapid growth, in part due to the illegal accounting practices that Scrushy allegedly demanded from his financial officers. HealthSouth reported $1.4 billion in false earnings, representing more than ten percent of the company's total assets. See also References
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