Pangloss Posted June 17, 2005 Share Posted June 17, 2005 http://www.washingtonpost.com/wp-dyn/content/article/2005/06/17/AR2005061700863.html Ex-Tyco Execs Convicted in Second Trial By SAMUEL MAULL The Associated Press Friday, June 17, 2005; 4:00 PM NEW YORK -- L. Dennis Kozlowski, accused of looting hundreds of millions of dollars from Tyco International Ltd. to fund a lavish lifestyle of parties and extravagant purchases, was convicted Friday of grand larceny and other charges. A Manhattan State Supreme Court jury deliberated 11 days before convicting the former Tyco CEO and the conglomerate's former finance chief, Mark H. Swartz. The verdict came after a four-month trial; the pair face up to 30 years in prison on their convictions _ the maximum sentence for both under the law, prosecutors said. Similar links in case that one's registered: http://www.nytimes.com/2005/06/17/business/17cnd-tyco.html http://www.reuters.com/financeNewsArticle.jhtml?type=businessNews&storyID=8826570 http://news.bbc.co.uk/1/hi/business/4105628.stm Link to comment Share on other sites More sharing options...
atinymonkey Posted June 17, 2005 Share Posted June 17, 2005 What is the connection to Bush? Was there no legal system in the corporate areas pre-bush? Link to comment Share on other sites More sharing options...
Pangloss Posted June 18, 2005 Author Share Posted June 18, 2005 There was. It just wasn't enforced. The Clinton/Reno Justice Department was notoriously incapable of prosecuting corrupt corporate management (even though many of the most famous cases happend and were even exposed on their watch), and some accused them of doing so because of campaign contributions. It's notable that the Bush/Ashcroft (now Gonzales) Justice Department has prosecuted hundreds of corrupt corporate upper management in spite of contributions of millions to the president's and his party's campaigns. Not that you'll see them get much credit for this in left-wing circles, which focus more on the "war on drugs" and infringements on civil liberties. (Some of those concerns I share, but I'm a huge believer in giving credit where it's due.) Link to comment Share on other sites More sharing options...
atinymonkey Posted June 18, 2005 Share Posted June 18, 2005 Ah, interesting. Thanks! Link to comment Share on other sites More sharing options...
Douglas Posted June 18, 2005 Share Posted June 18, 2005 What is the connection to Bush? Was there no legal system in the corporate areas pre-bush?Or put another way, Bush and the Republicans have been accused of being in bed with big business, thus, all white collar crooks are expected to get a free ride. Bush has shown that he's tough on corporate crime...though I expect he'll never get credit for it. Link to comment Share on other sites More sharing options...
Pangloss Posted June 20, 2005 Author Share Posted June 20, 2005 And today John Rigas and his son were sentenced to 20 and 15 years respectively for their actions in the Adelphia fraud case. Things certainly don't look too good for former WorldCom CEO Bernie Ebbers, who is up for sentencing next month. Link to comment Share on other sites More sharing options...
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