Former Tyco CEO L. Dennis Kozlowski has agreed to pay $21.2 million to settle a New York state tax case related to his grand larceny conviction for looting the company. The amount covers $3.2 million in sales taxes that he owed on the purchase of $15 million worth of art, as well as $18 million he owes for state and city income taxes. The sales tax case preceded the investigation into thefts from Tyco which resulted in the grand larceny convictions last June of Kozlowski and former CFO Mark H. Swartz.
May 15, 2006 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
Former Tyco CEO L. Dennis Kozlowski agreed Friday to pay $21.2 million to settle a New York state tax case related to his grand larceny conviction for looting the company.
The amount covers $3.2 million in sales taxes that Kozlowski owed on the purchase of $15 million worth of art, as well as $18 million he owes for state and city income taxes, said defense lawyer James DeVita and Assistant District Attorney Ann Donnelly.
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