August 25, 2005
Short sentences for HealthSouth CFO and other execs
As detailed in this AP report, Aaron Beam, the former CFO of HealthSouth and a government witness in the Richard Scrushy trial (which resulted in an acquittal), was sentenced "to three months in prison today for his role in a $2.7 billion earnings overstatement." Ellen Podgor at the White Collar Crime Prof Blog comments here.
As noted by the father of Jamie Olis — recall that Jamie Olis is currently serving (and appealing) a severe 24-year sentence for his alleged role in the Dynegy fraud — the AP article details that of "10 former HealthSouth executives previously sentenced, only one was sent to prison, and that was for just five months. The nine others received combinations of probation, house arrest, fines and forfeitures." That reality should put even more heat and light on the Fifth Circuit's consideration of the reasonableness of the Olis sentence.
August 25, 2005 at 05:41 PM | Permalink
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