By: Associated Press
By: Associated Press

Former HealthSouth CEO Richard Scrushy has pleaded innocent to 85 counts in connection with alleged corporate wrongdoing.

Bond has been set at $10 million. Scrushy has been ordered to wear an electronic ankle bracelet.

Federal prosecutors say he was the mastermind of a fraud scheme that led to his pocketing more than a $.25 billion.

An indictment accuses Scrushy of false certification of corporate statements. The FBI says Scrushy becomes the nation's first CEO accused under a new federal law.

The government wants Scrushy to forfeit $279 million worth of assets, including a Florida home, an airplane, a yacht and artwork by Picasso, Chagall, Renoir.

Assistant Attorney General Christopher Wray says to hide the fraud, Scrushy ordered HealthSouth's employees to falsify financial documents. Wray says he used "threats, intimidation and payoffs."

HealthSouth and Scrushy have also been charged with fraud in a civil lawsuit by the Securities and Exchange Commission.

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