BREAKING NEWS ~ Ex-Tyco executives get up to 25 years jail for grand larceny

[JURIST] Wire services are reporting that two former Tyco [JURIST news archive] executives have been sentenced to between 8 1/3 and 25 years in prison after having been found guilty of securities fraud, grand larceny and conspiracy [JURIST report] earlier this year. Former Tyco International CEO Dennis Kozlowski and former CFO Mark Schwartz were convicted of stealing hundreds of millions of dollars from the corporation by giving themselves some $150 million in illegal bonuses, forgiving huge loans to themselves, and manipulating Tyco's stock price.

 

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