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Healthsouth - Coggle Diagram
Healthsouth
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Timeline of the fraud
In mid-1990's, the company boasted an unbelievable winning streak on Wall Street, meeting or exceeding expectations for more than 40 quarters in a row.
In the second quarter of 1996, HealthSouth's growth had slowed and the company reported fake numbers to Wall Street.
In 1984, Beam and Scrushy co-founded HealthSouth,a company started out offering outpatient medical-care facilities.
In 1986, HealthSouth went public.
On March 19, 2003, NBC Nightly News reported HealthSouth’s fraud
In 1997, Aaron Beam retired
By 2002 the gap between what HealthSouth was reporting and its actual numbers was hundreds of millions of dollars every year.
In 2002, Weston Smith met with U.S. attorneys and the FBI and laid out the fraud for them to see.
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