Tyco CFO and CEO appeal convictions
Swartz and Kozlowski claim their trials were faulty
The CFO and CEO of Tyco, who were jailed three years ago after being found
guilty of stealing more than $150m from the company, have launched an appeal
against their convictions claiming the jury that found them guilty had
insufficient evidence, according to a
Reuters
report.
CEO, Dennis Kozlowski, and CFO, Mark Swartz, were convicted in June 2005 and
sentenced to serve a minimum of eight years in prison, though the judge
delivered terms of 8 and one third to 25 years for both executives.
Reuters reports that legal teams for the two men will claim that the trials
in which they were convicted were flawed for a number of reason and that the
convictions should be quashed.
One argument will be that a key prosecution witness unfiarly prejudiced the
jury.
In Swartz’s case his lawyers will claim that his defense was damaged by a
refusal to allow a subpoena for notes of conversations between the CFO and other
board members, Reuters reports.
The appeals began in New York’s highest court yesterday, Reuters said.
Court
approves $3.2bn Tyco settlement