A former HealthSouth Corp. finance executive was sentenced to a
year and a day in prison on
Wednesday for his part in the multibillion-dollar accounting
fraud that rocked the company.
Online Stock Market Trading Jason Brown, 36, a former vice president of finance for the
Birmingham-based,
health-care company, was ordered
to report to prison on February 1.
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Stock Investing Course He was also ordered to serve two years of supervised release
following his prison term.
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Stock Market Game "Executives who commit corporate fraud are not more than common
thieves wearing suits and wielding pens as their weapons while
bilking millions from investors," U.S. District Court Judge Sharon
Blackburn said in handing down the sentence.
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Stock Investing Game Brown was one of 15 former HealthSouth executives who pleaded
guilty to a variety of fraud charges after it was discovered that
the company had been reporting inflated earnings for years.
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Journal Prime Rate Street Wall Forensic accountants working for HealthSouth's new management
put the extent of the fraud at nearly $4 billion.
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Stock Market News Former HealthSouth Chief Executive Richard Scrushy, who had been
accused of directing the fraud, in June was found not guilty of all
charges by a Birmingham jury even though five former finance chiefs
testified that he was aware of and involved in the bogus
accounting.
Stock Investing Basics Williams Owens, one of Scrushy's longtime lieutenants and one of
the ex-CFOs, received the harshest sentence, getting five years in
prison. But most who had pleaded guilty received little or no jail
time.
Stock Investing Software "The magnitude of the fraud is
mind boggling," said Blackburn,
adding she was sorry the sentences of the others handed down by
different judges were not more severe.
Stock Market Trading Before the sentencing, Brown told the court that he regretted
his participation in the fraud every day.
Stock Investing For Dummy "I made two very poor decisions in 2002. I learned a very
painful and difficult lesson," he said.
Stock Market Crash Blackburn responded: "The fact that you have suffered weighs
very little because it is a suffering of your own making."
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