Law.com

Font Size: increase font decrease font

Former Tyco Executives Sentenced to Up to 25 Years in Prison

New York Law Journal

September 20, 2005

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.

This article requires premium access

This article requires premium access to Law.com. Please sign in or subscribe to read the full text.