former Tyco International Ltd

[hobbes4star 0]

Does anybody remember this one? Dennis Kozlowski and Mark Swartz, former Tyco International Ltd. top executives who were found guilty of stealing hundreds of millions of dollars from the company, were just sentenced to up to 25 years in prison. This whole nightmare started several years ago when stories started to come out about how Tyco executives stole some $600 million from the company including a $2 million toga birthday party for Kozlowski's wife on a Mediterranean island and an $18 million Manhattan apartment. Besides these little indulgences Kozlowski and Swartz also were accused of defrauding investors by selling $575 million in Tyco stock while misrepresenting the company's finances. In addition to the prison terms the two were ordered to pay restitution to the company of around $134 million. Kozlowski was also fined $70 million and Swartz was fined $35 million by the state. How does a person think he can get away with something like this? We're not talking about bringing home office supplies here. Do you think the sentences were fair (considering they may be eligible for parole in 8 1/2 years)? I wonder what kind of sentence the investors who were swindled would have handed down.

if fun were easy it wouldn't be worth having, right?

[gemini 0]

Remember it? I had to live with part of it! Had the honor of doing the Sarbanes-Oxley review earlier this year.

Blue skies,

Jim

[EricTheRed 0]

I think fair would be taking every thing they have and giving them a mobile home in one of the new trailer parks just outside of NO when they get out.

(IMO this should include all possessions of their immediate families)

They should have nothing but total poverty. Let 'em work at walmart for the next 30 years...

illegible usually

[Gawain 0]

25 years in jail, $130M in restitution is nothing to sneeze at. Though they could have been stiffer.

So I try and I scream and I beg and I sigh
Just to prove I'm alive, and it's alright
'Cause tonight there's a way I'll make light of my treacherous life
Make light!

[StreetScooby 5]

Quote

Do you think the sentences were fair (considering they may be eligible for parole in 8 1/2 years)?

It's going to be state time, not federal time. It won't be cushy.

We are all engines of karma

[FallRate 0]

Quote

It's going to be state time, not federal time. It won't be cushy.

Good point. I was thinking they should have received a punishment that was a bit more stiff. But state prison should provide plenty of stiff punishment.

FallRate

[JoeyRamone 0]

They are getting off to easy. I agree with the trailer life as well.