Can't blame them for trying...
Court: Health South not due refunds on taxes paid during fraud
BIRMINGHAM, Ala. (AP) – Health South Corp. isn’t due a refund on property taxes it paid on bogus assets during some years of a huge financial fraud, a state appeals court ruled Friday.
The Alabama Court of Civil Appeals denied the company’s request to overturn a decision by a probate judge in Jefferson County, where the rehabilitation and medical services company is based.
Health South, which returned to the New York Stock Exchange on Thursday after a 31/ 2 year absence brought on by the accounting scandal, claimed it should recoup an unspecified amount of money that it overpaid in property taxes in 2001 and 2002, the year before the fraud was unc overed.
But the court ruled 5-0 that Health South could not now profit from the overstatement of earnings during those two years.
“Health South cannot be permitted to take advantage of its own wrong by receiving a refund based on its own inequitable conduct,” said the decision by Presiding Judge John Crawley. “There is no equity in allowing Health South to obtain relief from its own fraudulent scheme.”
For those who understand no explanation is needed, ...For those who don't none will.
