Ex-Tyco CEO Kozlowski Sentenced to 8 to 25 Years

NEW YORK -- L. Dennis Kozlowski, the former CEO of Tyco International Ltd., was sentenced Monday to eight and one-third years to 25 years in prison Monday for stealing hundreds of millions of dollars from the company, The Associated Press reported.

His codefendant, former Tyco finance chief Mark Swartz, received the same sentence, which means they will be eligible for parole after eight years and four months.

The judge also ordered them to pay a total of $134 million in restitution. In addition, Kozlowski was fined $70 million and Swartz $35 million.

Family members wept in the gallery as the sentences were imposed.

-- NYSSCPA.org News Staff

Posted on 9/19/05