Richard Scrushy's ranch in south Alabama sold - WSFA.com Montgomery Alabama news.

Richard Scrushy's ranch in south Alabama sold

Associated Press - February 28, 2011 10:04 AM ET

CAMDEN, Ala. (AP) - Another piece of Richard Scrushy's estate has been sold to help satisfy a $3 billion judgment won by HealthSouth shareholders.

The Selma Times-Journal reports that Scrushy's 360-acre ranch in Wilcox County has sold for $692,000. Wilcox County courthouse records show it was purchased by James Walter Prevatt and his wife, Peggy Prevatt.

An attorney for HealthSouth shareholders, John Somerville, says the sale price was below the listing price of $936,000, but was close to the tax appraisal.

The farm on Alabama Highway 21 in Furman includes a four-bedroom log cabin and an 18-acre lake.

Somerville says shareholders acquired the farm through an agreement with Scrushy's son-in-law. Somerville says Scrushy transferred the farm out of his own name to hide it from shareholders.

Information from: Times Journal, http://www.selmatimesjournal.com/

Copyright 2011 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

 

Powered by Frankly