Kozlowski, Dennis L. - Investment & Finance Definition
The former chief executive of Tyco International Ltd. Indicted on corruption and grand larceny charges in 2002 for allegedly stealing $600 million from Tyco, Kozlowski resigned before he was indicted by the state of New York on charges of evading $1 million in sales taxes for allegedly having paintings that were purchased in New York shipped to Tyco offices in Exeter, New Hampshire, before being returned to New York. He pled not guilty. In December 2002, Tyco sued Kozlowski and former chief financial officer Mark Swartz for allegedly making dozens of short-swing stock trades (totaling $40 million), beginning in August 2000. See also short-swing stock trade.