There's more legal trouble for a one-time HealthSouth executive who was involved in the huge fraud at the rehabilitation company.
Prosecutors say former HealthSouth finance chief Tadd McVay pleaded guilty in federal court in Birmingham, Ala., today to banking charges.
The 45-year-old McVay admitted to illegally structuring financial transactions. Prosecutors say he engineered a series of 24 bank deposits to keep them below the federal bank reporting threshold of $10,000.
McVay was indicted on the charge in August. He was accused of making the illegal deposits while already on probation for his role in the massive fraud at HealthSouth. He was awaiting resentencing in the HealthSouth case at the time the deposits were made.
McVay agreed to give up $150,000 to the government as part of a plea deal in the banking case. The possible penalty includes a maximum sentence of five years in prison and a fine of $250,000. -- Associated Press