CEOs Misbehaving

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June 2007
- HealthSouth Boss Gets 7 Years for Bribery
  
  Wall Street Journal | Jun 29, 07 4:15 AM CDT
  
  (Newser) - Richard Scrushy, the former CEO of HealthSouth, was sentenced to almost 7 years in prison for giving the governor of Alabama $500,000 in exchange for a seat on the state hospital regulatory board, the Wall Street Journal reports. Former governor Don Siegelman was sentenced to over 7 years, and both men must pay restitution. More »
May 2007
- Tyco Ponies Up Record $3B in Shareholder Settlement
  
  Financial Times (UK) | May 15, 07 3:42 CDT
  
  (Newser) - After years of legal wrangling, Tyco will pay a record $2.975 billion to shareholders who say the company used faulty accounting practices to defraud them. The settlement by Tyco, which became a poster child for executive excess in the wake of the Enron scandal, represents the largest amount ever offered by a single firm in a corporate-fraud case. More »
- HBO Axes CEO After Arrest
  
  Los Angeles Times | May 10, 07 5:09 AM CDT
  
  (Newser) - Chris Albrecht, who turned HBO into a titan with mega-hits "Sex and the City" and "The Sopranos," was fired yesterday in the aftermath of an arrest for choking his girlfriend outside the MGM Grand in Vegas. A temporary leave was announced after Sunday's altercation, but Albrecht was forced out after the LA Times revealed an earlier violent incident HBO had kept quiet. More »
- BP Chief Resigns Over Lies On Gay Lover
  
  Times (UK) | May 1, 07 9:59 CDT
  
  (Newser) - The chief executive of U.K. energy giant BP stepped down unexpectedly today, after a court ruled he had lied about details of his relationship with a 27-year-old man, and the House of Lords decided he couldn't keep a tabloid from printing them. Lord Browne of Madingley lavished the student with gifts, and allegedly even gave away trade secrets. More »
April 2007
- Nacchio Goes Down for Insider Trading
  
  Wall Street Journal | Apr 20, 07 6:50 AM CDT
  
  (Newser) - Joseph Nacchio, former CEO of Internet-bubble-blowing telecom Qwest, was found guilty of 19 counts of insider trading by a federal jury in Denver yesterday. Nacchio dumped more than $100 million in Qwest stock in 2001, before the stock imploded over questionable accounting practices. The jury acquitted on 23 other counts. More »
May 2006
- Enron Leaders Found Guilty; Massive Fraud Pinned to Lay, Skilling
  
  Washington Post | May 26, 06
  
  A federal jury found former Enron chairman Kenneth L. Lay guilty of every one of the half-dozen counts with which he was charged and convicted his protege Jeffrey K. Skilling of 19 more on Thursday, pinning them with responsibility for one of the era's biggest and most damaging business frauds. Jurors deliberated for less than six days over a trial that took almost four months and was more than four years in the making. As they filed back into the courtroom, jurors avoided eye contact with the defendants and their families. Skilling rose first and stood impassively, holding his hands pressed...
March 2005
- Ebbers guilty on all counts: federal jury convicts former WorldCom chief for his role in accounting scandal
  
  Mississippi Business Hournal | Mar 21, 05
  
  Bernie Ebbers was found guilty March 15 on all counts for his role in the $11-billion accounting fraud that brought down telecommunications giant WorldCom. On June 13, the former CEO will learn if he will spend the rest of his life in prison. "It's a sad day for Bernie, and a sad day for Mississippi," said Paul Breazeale, CPA, of Jackson-based Breazeale Saunders & O'Neil Ltd. "He was the great hope for a lot of Mississippi investors, and they entrusted him with their money and expected him to be a good steward and have integrity. Obviously, that didn't turn out to be the case." A federal jury...