Former HealthSouth CFO to get jail time
New sentence for disgraced executive
Mike Martin, the former chief financial officer for health care company
HealthSouth Corp, will serve time in jail after an appeal court considered his
original sentence to light.
Martin was sentenced to serve three years in prison for his role in a $2.7bn
fraud (£1.4bn) at the company, but his original sentence only required him to
serve time on probation and house arrest.
He was originally sentenced to just five months probation and was later
ordered to serve only seven days in prison. Both of those sentences were
overturned after U.S. prosecutors protested the lenient penalties
This week the 11th Circuit Court of Appeals called the week-long prison term
given to Martin at a second sentence ‘shockingly short,’ and ordering another
sentencing.
He will begin his prison sentence on 12 October and will serve two years of
supervised release after finishing his jail term.
Martin was chief financial officer at HealthSouth from late 1997 to early
2000