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July 5, 2005

All Business: 'I don't know' defense a big win for Scrushy

  • The HealthSouth CEO's case will be used as a blueprint for other CEOs preparing for trial.
    • By RACHEL BECK
    AP Business Writer

    NEW YORK — Perhaps the biggest surprise in Richard Scrushy's acquittal last week in the $2.7 billion accounting fraud at HealthSouth Corp. was that the jury believed his "I didn't know even though I was the CEO" defense.

    Just months ago it seemed like executives could no longer plead ignorance and get away with it, a view that came after former WorldCom CEO Bernard Ebbers tried that tactic but was still convicted of being part of a conspiracy that cooked his company's books.


     
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