Tyco's Ex-Chief and Top Aide Are Convicted of Grand Larceny - New York Times

Tyco's Ex-Chief and Top Aide Are Convicted of Grand Larceny - New York Times: "June 17, 2005

L. Dennis Kozlowski, the former chairman and chief executive of Tyco International, and his top lieutenant were convicted this afternoon on fraud, conspiracy and grand larceny charges, bringing an end to a three-year-long case that came to symbolize an era of corporate greed and scandal.
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Mr. Kozlowski and Mr. Swartz were convicted by a New York jury in lower Manhattan on all but one of 31 counts of grand larceny, conspiracy, falsifying business records and securities fraud. The most serious charge, grand larceny, carries a possible maximum sentence of 25 years in prison.
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The four-month-long trial was the second time Mr. Kozlowski and Tyco's former chief financial officer, Mark H. Swartz, were tried on charges of stealing $150 million from Tyco - a conglomerate whose products range from security systems to health care products - and reaping $430 million more by covertly selling company shares while ''artificially inflating' the value of the stock."