Hey Folks:
Dennis Kozlowski and the others who are charged with assorted foul actions resulting in an illegal profit of hundreds of millions of dollars at Tyco, are in the closing moments of the trial against them. Closing arguments may start as soon as Thursday. The victims are large in number and the damage done is large in scale.
From a recent news article...
"The jury will still consider charges of grand larceny, falsifying business records and violating state business laws. The grand larceny charge -- a "mega-larceny" under state law since it alleges theft of more than $1 million -- is also punishable by up to 25 years in prison.
Prosecutors say Kozlowski and Swartz stole $170 million from Tyco by hiding unapproved pay and bonuses and by abusing loan programs.
The defendants are also accused of illegally making another $430 million by pumping up the value of Tyco stock through lies about the company's finances from 1995 to 2002."
Now, this is a corporate scandal....looting hundreds of millions of dollars, the wrecking of a rising company, lavish personal expenditures and frequent, willful manipulation through sustained systematic and coordinated activities. I hope the government wins this case...