The two former top executives of Tyco International were each sentenced Monday to prison terms of 8 1/3 to 25 years on charges they stole more than $150 million in unauthorized loans and bonuses from the company. A Manhattan Supreme Court justice also ordered Dennis Kozlowski, Tyco's former chief executive officer, to pay $97 million in restitution to Tyco and $70 million in fines. Mark H. Swartz, the former chief financial officer, was ordered to pay $37 million in restitution and $35 million in fines.
Former Tyco Executives Sentenced to Up to 25 Years in Prison
New York Law Journal
September 20, 2005