Although current executives at Emerson Hospital deny any wrongdoing, it certainly looks as if two former executives at the Concord, MA facility were found to have created misleading financial documents. Dana P. Diggins, Emerson's CFO, and Michael Collins, its controller--both of whom left the hospital last year--made the hospital's financial performance out to seem better than it actually was in documents that span its last three fiscal years. "They weren't aware they were misstating it--they thought they were correctly stating it, but they were wrong," said John O. Wilhelm Jr., interim CFO at Emerson. "People make mistakes and they move on. That's life. They were big mistakes."
Still, all of this took place, according to the Boston Globe, "at a time when [the hospital] was seeking donations for a major expansion that is now nearing completion." Consequently, Emerson had to take $7.1 million of misstated revenue off its books.
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