The New York Times reported this week that additional charges have been brought against ex-Tyco CEO, Dennis Kozlowski, ex-chief financial officer for the Bermuda-based company, Mark Swartz, and former general counsel, Mark Belnick.
According to the NY Times, Manhattan District Attorney, Robert Morgenthau, yesterday indicted the three men on charges including conspiracy to commit fraud, larceny, and enterprise corruption. The Securities and Exchange Commission has also accused the men of securities fraud, and announced its intention to seek millions of dollars in penalties.
Unnamed sources close to the investigation informed the newspaper that Tyco itself is filing a lawsuit against its former CEO, seeking the return of his income and benefits since 1997, an amount that is at least $250 million.
The charges levelled at Mr Kozlowski this week are in addition to a 14 count indictment he already faces, which accuses him of evading more than $1 million in New York sales taxes, using Tyco International as a cover.
.
Network Tweets
Network BlogsContent
provided by
|
Archive | Resources | Partners | Site Map | Links | Newsletter Archive | Contact | RSS Feeds | About | Syndication | Advertising & Marketing | Recruitment | Terms & Conditions | Privacy & Cookies
Copyright © 2012 - All Rights Reserved - Tax-News.com
IMPORTANT NOTICE: Tax-News.com has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments.
Write a comment