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Biotech / Medical : HEALTHSOUTH Corporation (HLSH)

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To: jmhollen who started this subject	12/11/2003 10:16:01 PM
From: jmhollen	Read Replies (1) of 116

WSJ.COM WRAP: Five HealthSouth Ex-Officials Sentenced>HRC A WALL STREET JOURNAL ONLINE NEWS ROUNDUP NEW YORK (Dow Jones)--A federal judge sentenced former HealthSouth Corp. (HLSH) Assistant Controller Emery Harris to five months in federal prison, and sentenced four lower-level accounting officials to probation. All five defendants have agreed to cooperate with a wide-ranging criminal investigation of Birmingham, Ala.-based HealthSouth. The four officials to receive four-year probation terms are Rebecca Kay Morgan, a former group vice president; former vice presidents Angela C. Ayers and Cathy C. Edwards; and Virginia B. Valentine, a former assistant vice president. All four women worked for Harris in HealthSouth's accounting department. Last month, Harris gave testimony about his participation in a $2.7 billion accounting fraud, in particular, regarding the role of a group of top officials at the company who orchestrated the fraud and called themselves "the family." Under questioning from Judge Johnson, Harris testified that former Chief Financial Officer Michael Martin once played a voicemail for Harris and others involved in the scheme to illustrate the pressure Martin felt to keep Wall Street satisfied. Martin has also pleaded guilty to charges related to the case. A total of 15 former HealthSouth executives have agreed to plead guilty to various criminal charges related to the fraud and to cooperate in the Justice Department prosecution of HealthSouth founder Richard M. Scrushy. Scrushy, indicted in early November on 85 criminal counts, is scheduled to be tried in January. He has denied any wrongdoing. For continuously updated news from The Wall Street Journal, see WSJ.com at wsj.com. (END) Dow Jones Newswires

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