The Battle To Sell Off Richard Scrushy's Many Toys
HealthSouth shareholders had filed a lawsuit claiming Scrushy was involved in years of overstating the company's earnings and assets so that it looked like the company was meeting the Wall Street forecasts. He was acquitted in a federal criminal case over related charges and testified in the state civil case that he knew nothing about any fraud but is currently serving a sentence for a 2006 conviction in a separate state government bribery case. The Scrushy saga was also featured in the CNBC show American Greed.
One item up for potential sale is the 92-foot yacht, Chez Soiree. The yacht, which is currently anchored in North Palm Beach, Florida, is supposed to be up for sale this weekend. Scrushy has said he doesn't own the yacht but a Cayman Islands-based firm bearing his middle name, Marin Ltd., does. The Birmingham News says that the Tallapoosa County Sheriff's Department has a November 9 auction date planned for Scrushy's $5 million Lake Martin, Alabama home and all of the contents of it and a hangar on the property, a hoard of hundreds of items including a cigarette boat and jet skis. The Birmingham News has PDFs of the list of belongings up for sale complete with black and white shots of wicker chairs, television sets and bad art. Neighbors had referred to the 14,000 square foot home as "the world's largest La Quinta Inn"
Scrushy's cars, 19 seized vehicles in total, were sold at auction last month. The cars includes a Bentley Azure, a Rolls Royce Corniche, a Hummer and a Porsche 911 and brought in more than $850,000 total. Scrushy's team of lawyers had also tried to delay that sale.