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Ex-Tyco Executives Will Argue Appeal In N.Y.

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Sep 2, 2008 11:03 am US/Eastern

Ex-Tyco Executives Will Argue Appeal In N.Y.

Kozlowski, Swartz Convicted Of Fraud, Grand Larceny

ALBANY (AP) ― New York's top court is set hear oral arguments as former Tyco International executives L. Dennis Kozlowski and Mark Swartz bid to overturn their fraud and grand larceny convictions.

The state Supreme Court's Appellate Division ruled in November that there was sufficient evidence to support the 2005 convictions of Kozlowski, Tyco's former CEO, and Swartz, the former finance chief. Now the case is before the Court of Appeals, which scheduled arguments for Tuesday.

Both were sentenced to 8 1/3 to 25 years in prison after being convicted of conspiracy, grand larceny, securities fraud and falsifying business records.

Ordered to repay more than $100 million in bonuses they contend were legitimate, Kozlowski was also fined $70 million and Swartz $35 million.

(© 2009 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)

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