Wednesday, October 05, 2005

Good

Court Denies Bail for Convicted Former Tyco Executives

By SAMUEL MAULL, AP

NEW YORK (Oct. 3) - A state appeals court Monday refused to allow bail for former Tyco International executives L. Dennis Kozlowski and Mark Swartz while they appeal their convictions on charges of stealing some $600 million from the company. [...]

Kozlowski, 58, and Swartz, 45, have been custody since they were sentenced Sept. 19 to eight and one-third to 25 years in prison. They were convicted in June on first-degree grand larceny and other charges related to accusations they stole $180 million outright and improperly made some $430 million by manipulating Tyco's stock value. [...]

Kozlowski and Swartz were each convicted in June on 22 counts of grand larceny, securities fraud, falsifying business records and conspiracy after a four-month second trial. Their first ended in a mistrial after one juror received a menacing communication.During the trials, prosecutors accused Tyco's two former top executives of giving themselves illegal bonuses and forgiving loans to themselves worth up to $180 million, while also manipulating Tyco's stock price by lying about the company's finances.


Kozlowski should die in prison.

4 Comments:

Blogger Mary Morgan said...

This comment has been removed by a blog administrator.

October 05, 2005 6:36 AM  
Blogger Hey Skipper said...

Oroborous:

Well, only if you think the punishment should fit the magnitude of the crime.

But that would require a half dozen reincarnations.

October 06, 2005 8:12 AM  
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