Business
Ex-HealthSouth executive barred from all boardrooms
NEWS IN BRIEF — Posted Sept. 13, 2004
Former HealthSouth chief information officer and assistant controller Kenneth K. Livesay has been barred from ever serving again as an officer or director of a public firm as part of a legal settlement with the U.S. Securities and Exchange Commission.
Livesay, who was sued by the SEC for allegedly directing HealthSouth employees to make false accounting statements to inflate the company's earnings, did not deny or admit any wrongdoing as part of the settlement, which was finalized on Aug. 19.
Earlier in the summer, Livesay was sentenced in federal court to six months of home detention and 60 months of probation and was ordered to pay a $10,000 fine and forfeit $750,000 for his role in the massive accounting scandal at HealthSouth. He had pleaded guilty to fraud and conspiracy charges.
Livesay is one of at least 19 former HealthSouth employees who has faced criminal charges since the accounting fraud at the outpatient services giant was first revealed in March 2003.
Note: This item originally appeared at http://www.ama-assn.org/amednews/2004/09/13/bibf0913.htm.
