Scrushy Jewels Raise Nearly $1.5 Million For Defrauded Shareholders

by Deidre Woollard (RSS feed)
Dec 10th 2010 at 4:01AM

Ruth Madoff's diamond ring sold last month for $550,000 and this month it's Leslie Scrushy who has lost her ring. Scrushy is the spouse of former HealthSouth CEO Richard Scrushy, who was found liable in civil court for an accounting fraud and ordered to pay $3.2 billion. Past sales of his cars, yachts and other belongings have raised money to help satisfy that debt. Mrs. Scrushy's jewelry raised nearly $1.5 million at auction on Thursday at Sotheby's with proceeds going to former HealthSouth shareholders.

Levy's Fine Jewelry has been handling the collection and contracted with Sotheby's to auction the nine best pieces including this 20-carat diamond ring valued at up to $700,000 which sold for $752,500. The sale also featured a platinum and diamond bracelet with a total of nearly 49 carats in diamonds valued at $150,000 to $200,000 which sold for $176,500. The sale was held to quiet allegations that Mrs. Scrushy had attempted to hide some of her husband's assets.

Tags: diamonds, HealthSouth Corp, jewelry, linda scrushy, ricahrd scrushy

Filed under: Jewelry, Auctions, Crimes and Misdemeanors

Subscribe to these comments

Reader Comments (Page 1 of 1)

Deidre at Steuben Dec 10th 2010 1:27PM

I bet the buyers are getting significant discounts on these auction items. It's great to hear that there is still a way for these debts to be repaid. It will be interesting to see what percentage of the debts will be repaid from the sale of Madoff and Scrushy's assets.