2 Tyco officials get up to 25 years for fraud
Well it's about damn time! Crooked CEOs beware!!!
NEW YORK L.Dennis Kozlowski, the chief executive whose extravagant spending and pay packages at Tyco International became notorious examples of corporate excess, was sentenced Monday to up to 25 years in state prison for stealing from his company and deceiving shareholders.
Mark Swartz, Tyco's former chief financial officer, received the same sentence - eight and one-third to 25 years - for his role in the fraud.
Judge Michael Obus of the State Supreme Court in New York also ordered Kozlowski to pay $97 million in restitution and $70 million in fines. Swartz was ordered to pay $37 million in restitution and $35 million in fines.
http://www.iht.com/articles/2005/09/...iness/tyco.php
2 Tyco officials get up to 25 years for fraud
Now if we can get Ken Lay in the joint. Damn, we agree again, the world is more complex than any of us would have imagined.
2 Tyco officials get up to 25 years for fraud
i think its funny,those greedy idiots with the 36,000$$$ umbrella holders are gonna do 15 years in Addica.ouch!
2 Tyco officials get up to 25 years for fraud
Quote:
Originally Posted by amsterdam
i think its funny,those greedy idiots with the 36,000$$$ umbrella holders are gonna do 15 years in Addica.ouch!
wait for the appeals process...it favours the rich in america...
2 Tyco officials get up to 25 years for fraud
It's Attica, by the way. Sorry, my mom is an English teacher.
2 Tyco officials get up to 25 years for fraud
Quote:
Originally Posted by andruejaysin
It's Attica, by the way. Sorry, my mom is an English teacher.
thought i got it wrong.
everything favors the rich and powerful,thats why they are called the powerful.
