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09-20-2005, 01:18 AM #1OPSenior Member
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.phpPsycho4Bud Reviewed by Psycho4Bud on . 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 Rating: 5
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