10 December 2005

HealthSouth CFO Gets the Slammer

After losing his marriage, home, and bank account, HealthSouth CFO Bill Owens was sentenced to 5 years for his role in the health care company's accounting fraud.

CEO Richard Scrushy was acquitted of all criminal charges earlier this year, which this judge alluded to, calling it a "travesty" because the evidence against him was "overwhelming." He still has to face civil charges, though. What's the diff?

Criminal cases require evidence beyond a reasonable doubt, whereas civil cases require a preponderance of evidence. The bar is a little lower in the latter. That's the brief explanation from a lawyer friend.

Corporate criminals have to go to prison in large numbers if there's going to be any deterrence to corruption. Otherwise they'll just move here and join the Ohio Republican Party.


KatieG said...

"Richard Scrushy" just sounds like a criminal name...

Andrew Warner said...
This comment has been removed by a blog administrator.
Andrew Warner said...

This is unbelievable... White collar crimes have the greatest effect on society but the lightest punishments. Your average street crime, while maybe a little more scary, has only a affect on the whole of society.

These scandals cost Americans billions, but the dirty rich guys only do light time. That's messed up.