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To: Bucky Katt who wrote (26202)	9/19/2005 1:11:23 PM
From: Skywatcher	Respond to of 48463

VICTORY! Ex-Tyco Executives Get Up to 25 Years in Prison By Jesus Sanchez, Times Staff Writer Former Tyco International Ltd. Chief Executive L. Dennis Kozlowski was sentenced today to serve up 25 years in prison for his role in looting millions of dollars from the industrial conglomerate to bankroll a lavish lifestyle. A New York state judge also ordered Kozlowski and former Chief Financial Officer Mark Swartz and to serve between 8 1/3 to 25 years in prison, according to Associated Press. ADVERTISEMENT Kozlowski, once one of America's highest paid executives, became an icon for corporate excess after throwing a Roman-themed birthday party for his wife on the Mediterranean isle of Sardinia in 2001 — and sticking Tyco with half of the $2-million bill. After a four-month trial, a Manhattan jury in June convicted each man on 22 of 23 counts of grand larceny, conspiracy, securities fraud and falsifying business records. Each was found not guilty on one count of falsifying records. The Tyco case follows government victories against several other business figures accused of financial crimes, including former WorldCom Inc. Chief Executive Bernard J. Ebbers, lifestyle entrepreneur Martha Stewart and Silicon Valley investment banker Frank Quattrone. Kozlowski and Swartz built Tyco International into a diversified industrial company through a series of acquisitions, generating rich rewards for the executives. The two took home legitimate compensation of almost $300 million from 1999 to 2001. But prosecutors had charged that they stole an additional $150 million to finance lifestyles that were sumptuous even by the outsized standards of corporate titans. Kozlowski and Swartz were accused of awarding themselves bonuses not approved by corporate directors and forgiving, without permission, their obligation to repay company-financed loans. The men maintained that their actions had been authorized. A linchpin of their defense was that the now-deceased head of Tyco's compensation committee had told them that the board had approved their extra pay. The most notorious aspects of the case revolved around Kozlowski's expenditures. His New York apartment was outfitted with a now-infamous $6,000 shower curtain and a $15,000 umbrella stand -- both paid for with Tyco's money. A first trial against Kozlowski and Swartz was declared a mistrial last year after juror Ruth B. Jordan became a center of controversy during deliberations. Jordan made a gesture to the defendants that some observers interpreted as an "OK" sign, and subsequently received a threatening letter. The second trial was shorter, and more tightly focused on the executives' financial dealings. Times Staff Writers Walter Hamilton and Thomas S. Mulligan contributed to this story.

To: Bucky Katt who wrote (26202)	9/19/2005 1:11:46 PM
From: Skywatcher	Read Replies (1) \| Respond to of 48463

why?...something FISHY going on?