BusinessCompany NewsEx-Tyco tax chief surrenders

Ex-Tyco tax chief surrenders

Will face charges of falsifying tax return

Raymond Scott Stevenson, former vice president in charge of taxation for
conglomerate, Tyco International has surrendered to authorities and will face
charges that he falsified the company’s 1999 tax return.

The 1999 return allegedly helped Tyco evade more than $50m in taxes, federal
investigators said.

Stevenson oversaw preparation of its corporate tax returns and worked at the
company’s executive offices in Boca Raton, Florida.

He is accused of deliberately failing to report more than $170m of income on
Tyco’s federal tax return.

Stevenson pleaded not guilty before a federal magistrate in Fort Pierce,
Florida.

If convicted, he faces up to three years in prison and a $250,000 fine.

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