WSFA 12 News Montgomery, AL |Scrushy house, lots going on auction block
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BIRMINGHAM, Ala. (AP) - Former HealthSouth CEO Richard Scrushy's estate in Vestavia Hills, estimated to be worth $4 million, is scheduled for auction next month. John Somerville, an attorney for HealthSouth shareholders, says the house and two adjacent lots will be sold together, minus contents. The proceeds will go toward paying Scrushy's debt to HealthSouth Corp. shareholders. This month, Scrushy's $7.4 million Lake Martin house and lots were auctioned by the Tallapoosa County Sheriff. The only bidder was the HealthSouth shareholder group, which bid $7.4 million. The Birmingham News reports that the Lake Martin house was seized after shareholders got control of it through the courts. The former HealthSouth CEO owes the money because was found liable for leading an accounting fraud at the Birmingham-based operator of physical therapy clinics.
(Copyright 2009 by The Associated Press. All Rights Reserved.)
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