Healthcorp South

Healthcare was once the largest company in outpatient surgery.  What happened was that the CEO of the company reported false financial statements.  This made the company appear to be financially better than they were which is known as fraud, and it mislead investors.  This was reported in 2003 and what the CEO overstated its earning by at least $1.4 billion.  The reason he lied about this was to make the company seem better and to seem better than the Wall Street expectations.  Later there assets were overstated by at $800 million.  This was Healthcorp South's accounting scandal.