Schwartz & Kozlowski of Tyco GUILTY on all but 1 count!

[napi21]

25 years in prison! JUst announced on CNN!!!

Grand larceny, conspiracy and secruties fraud. The only count found not guilty was falsifying company documents!

Guilty $100 million from the company and another $430 million in stock fraud.

[Melodybe]

1. Yay was he the CEO?

[BlueEyedSon]

2. Former CFO, former CEO is Dennis Kozlowski

[Orion The Hunter]

4. RE: Poor babies

This verdict could not have happened to a slimier couple of guys...

[hyphenate]

23. Well, it would have been

nice if the fuckers from Enron went to prison, but I haved a feeling that Ken Lay, Jeff Skilling and others of their ilk will get a pass from their buddies, George and Dickhead.

[Yo_Mama_Been_Loggin]

26. Kozlowski wasn't Chimpy's buddy

If he was he'd still be awaiting trial

[Renew Deal]

3. Kozlowski us Guilty too.

CNN: Ex-Tyco CEO Dennis Kozlowski and ex-chief financial officer Mark Swartz have been found guilty of grand larceny. More soon.

[maddezmom]

5. reuters link: Guilty verdict reached in Tyco trial

http://news.yahoo.com/news?tmpl=story&u=/nm/20050617/bs_nm/crime_tyco_dc_1

[napi21]

6. HA HA, said Shwartz looks soo schocked, and whole family crying!

Even the media kept saying this was a very difficult case to prove, and they thought they'd both walk!

[tk2kewl]

7. i am sure they will be out on bail pending appeal

:mad:

[napi21]

12. Judge is leaning to OK bail and out of jail while they appeal.

That doesn't surprise me! I'm just very happy these AH's got convicted! They also had the best attorney's money can buy, and they couldn't hide their scumb!

[stopbush]

8. I wonder if they'll allow Kozlowski to bring his $16,000

umbrella stand with him to prison?

[Initech]

9. Oh yeah! Oh yeah!

Wasnt he the guy who was caught on tape drinking vodka "dispensed" out of an anatomically correct ice statue of David?

[Zynx]

10. Yes

[AlCzervik]

11. is that hard time or club fed?

[Up2Late]

13. Former Tyco chiefs found Guilty (Reuters)

(GUILTY on ALL but 1 Charge!!!!)

Former Tyco chiefs found guilty

Fri Jun 17, 2005 02:51 PM ET

NEW YORK (Reuters) - Former Tyco International Ltd. (TYC.N: Quote, Profile, Research) Chief Executive Dennis Kozlowski and finance chief Mark Swartz were found guilty on Friday of stealing more than $150 million in secretly forgiven loans and unauthorized bonuses from the company. The jury of six women and six men returned their verdict on the 11th day of deliberations. The trial in State Supreme Court in Manhattan lasted more than four months.

This is the second time the two men -- who built Tyco into one of the world's biggest manufacturing conglomerates -- have been tried on allegations they misused company funds. The first case ended in a mistrial last year when a juror reported receiving a telephone call and a threatening letter about the case during deliberations.

Kozlowski, 58, was found guilty of conspiracy, fraud and falsifying business records. The jury found Swartz, 44, guilty of grand larceny, securities fraud and eight of nine counts of falsifying business records.

The verdict was still being read in the court room. Both men faced 25 years in prison on the most serious charge of grand larceny. The verdict is the latest in a string of government prosecutions aimed at convicting corporate chieftains of boardroom wrongdoings.

(more at link above)

[CottonBear]

14. Good. Have a nice 25 years in prison, ya bastards!

:evilgrin:

[gmoney]

15. Wow! Great news!

Let's hope he gets to share a cell with Kenny Boy one of these days...

[acmejack]

16. Finally!

A corporate crook goes down. So many of the guys have got off easier than a person with an ounce of pot.

[Bush_Eats_Beef]

17. Do they have cherub ice sculptures that piss vodka in prison?

Because if they DON'T, Uncle Fester is in for a R-O-U-G-H ride.



:evilgrin:

[Debi]

18. And I thought money bought acquittals....n/t

[OldLeftieLawyer]

20. Not on the East Coast, toots

Ask Martha Stewart and Bernard Ebbers.

Acquittals seem to be a California thing.

[KlatooBNikto]

19. Is this the same Kozlowski who told a graduating class at Seton Hall

to do the right thing? Looks like the jurors took that advice to heart!

[Serial Mom]

21. There is some hope that the system works, but I doubt

they will be sentenced to anything close to the maximum of 25 years!

And what kind of fine will they get?

Will they have to make restitution to the company? and if yes, you really want big money like that to go back to company that "Since Kozlowski was charged in 2002, the company has been reorganized under new CEO Edward Breen. The company, whose products range from printed circuit boards for electronics to hypodermic needles, is based in Pembroke, Bermuda."

I can't understand how companies can be based in foreign countries like that to avoid their fair share of corporate taxes! That is part of the problem that let these CEOs rape the companies!

The US system of capitalism works only for those who cheat it!

[hyphenate]

22. Yay!

I HATE Koslowski. What a great win for the good guys. Bastards. Make sure that it's a REGULAR prison ward, not a country club atmosphere. The regular inmates will have fun with their rich asses. :)

[okieinpain]

24. don't worry, the SCOTUS will set them free. they are looking for

loop holes right now.

[bleedingheart]

25. Bush will pardon them in 2007 or 2008...just when everyone

has forgotten about them and they will retire to the south of France...