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Kozlowski, Swartz Sentenced

Former CEO and CFO will serve eight and one-third to 25 years in state prison.

> > Former Tyco International Ltd. chairman and chief executive officer Dennis Kozlowski and former chief financial officer Mark Swartz were each sentenced to eight and one-third to 25 years in state prison for stealing hundreds of millions of dollars from the conglomerate, according to reports.
Kozlowski was also fined $70 million and ordered to pay $97 million in restitution; Swartz was reportedly fined $35 million and ordered to pay $37 million in restitution.
Source: CFO


Published:2005-09-20
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