Birmingham, Ala. – Fired HealthSouth Corp. chief executive Richard Scrushy reached an $81 million settlement to end a lawsuit filed by the Securities and Exchange Commission blaming him for a $2.7 billion accounting fraud at the health-care-services company.
U.S. District Judge Inge Johnson approved the settlement Monday.
Scrushy acknowledged no wrongdoing but agreed to give up $77.5 million that the government says he gained from the scheme. He agreed to pay another $3.5 million in civil penalties.
Scrushy will get credit for $71.5 million he has paid or forfeited in three other cases linked to HealthSouth. That leaves Scrushy owing a balance of $9.5 million, but the total could be reduced further by other cases.
Scrushy has spent more than $30 million on attorney fees.
