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Kozlowski Blames Accountants For Excesses and Oversights

Kozlowski Blames Accountants For Excesses and Oversights

by Toby Lucich on June 25, 2005

Although they are free on bail for the moment, former Tyco International CEO Dennis Kozlowski and former CFO Mark Swartz have been convicted of looting their corporate cow of more than $150 million. Both men are awaiting sentencing tentatively scheduled for August 2nd.

To remain free until sentencing, each paid $10 million bail. Kozlowski and Swartz were convicted last week on 22 counts of conspiracy, falsifying business records, grand larceny, and securities fraud. After a trial lasting more than four months, the jury reached their decision in only eleven days. Their first trial ended in a mistrial in 2004. The two men plan to appeal their convictions after a review of the trial records.

Kozlowski Blames Accountants For Excesses and Oversights

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