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Former Tyco Chief Executive Convicted


A jury in New York City has found the former top executives of the large American company Tyco International guilty of stealing hundreds of millions of dollars from the firm.

After 11 days of deliberations, jurors Friday convicted former chief executive Dennis Kozlowski and former finance chief, Mark Swartz, of grand larceny, fraud, falsifying business records and other charges.

Kozlowski and Swartz could be sentenced to 25 years in prison on the grand larceny charge alone when sentenced later this year. They are currently free on bail.

This was the second time prosecutors tried the two men, who were accused of misusing company funds to pay for extravagant lifestyles. The first case ended in a mistrial last year.

Defense attorneys plan to appeal.

Some information for this report provided by AP,AFP and Reuters.

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