Scrushy Heading to Halfway House

Richard M. Scrushy, the jailed founder and former chief executive of HealthSouth Corp. (NYSE:HLS), is being released on Thursday to a halfway house in Texas, according to his attorney.

The attorney, Art Leach, said Scrushy will likely remain in the halfway house for anywhere from two weeks to two months. Then Scrushy will be placed on supervised release and essentially be free.

“He’ll report to a probation officer, get a job and go about his life,” said Leach.

Scrushy has been locked up since June 2007 following his conviction for allegedly bribing former Alabama governor Donald Siegelman. He was accused of making illegal campaign contributions to Siegelman in return for a seat on an influential statewide healthcare regulatory board.

Scrushy has always maintained his innocence and his appeal has reached the U.S. Supreme Court. The high court has yet to announce whether they will hear the case.

In the wake of the accounting scandal, HealthSouth teetered on the brink of bankruptcy but has since recovered under new leadership.

Before going to jail, Scrushy was an influential and high-profile player in Alabama corporate and political circles and one of the highest paid CEOs in the U.S.

Leach said he wasn’t sure of Scrushy’s plans following his release from jail.

“I really don’t know what his plan is. Richard and I haven’t had any discussion about that at all.”