He’ll have to pay $10 million; he gets credit for an additional $71 million already paid in related lawsuits. I love this quote from the Birmingham News article:
An SEC spokesman said Monday the $81 million “is among the largest penalties ever imposed on an individual.” Investor Ivan Boesky in 1986 was fined $100 million for insider trading, and that probably was the highest penalty, the spokesman said.
Scrushy attorney Art Leach said the HealthSouth founder had no comment on the SEC settlement. Leach added that Scrushy denies similar claims made in other lawsuits in Jefferson County that he directed the company’s accounting hocus-pocus.
“Accounting hocus pocus” pretty much covers it. Of course, Scrushy knew nothing about it; those evil CFOs were to blame.