[tps_title]Tyco[/tps_title]
Grow with BusinessPundit
Want coverage and growth like the brands in this story?
Tyco International, a global manufacturing company based in Switzerland, became embroiled in a white collar crime scandal in 2002. The CEO Dennis Kozlowski and CFO Mark H. Swartz were accused of theft of over $150 million from the company. During their trial, a juror made an “okay” sign to the defense, and a mistrial was declared. In 2005, during their retrial, Kozlowski and Swartz were convicted of over 30 counts of theft and fraud. They were each sentenced to eight years in prison. Tyco was forced to pay $2.92 billion to defrauded shareholders. As of press time, Bob the Builder wished to stress that he has no affiliations with Tyco international.
