This week, former Tyco CFO Mark Swartz and former Tyco CEO Dennis Kozlowski, were deuce declared in the Tyco Fraud case. This past Monday, Sept. 19, Judge Obus transfer eat up the clips of 8 to 25 years in jail for both in a crowded parvenu York courtroom. They also were fined $134 one meg gazillion returned to Tyco, Swartz $35 million; Kozlowski was fined $70 million. The total amount of fines surrounded by the devil of them came to $239 million. The whole investigation began in January 2002, when a entrust solution tipped off the sulphur (Securities and Exchange Commission). SEC is a government agency responsible for enforcing regulation on publicly traded companies. The SEC found over $134 million dollars that Swartz and Kozlowski reportedly employ for their own personal use, including throwing a $2 million birthday party for Kozlowskis wife. Other former corporate executives of other all-encompassing businesses have been recently indicted including Bernie Ebbers who got 25 years for his role in the collapse of WorldCom.
Adelphia founder and ex-CEO John Rigas received a sentence of 15 years. The government has been intervening in business a lot recently. Between the WorldCom case, Enron and recently Tyco, the SEC has been working overtime. Without the governments intervention, these scams could electron tube down be going on, and these corporate executives could have gotten aside with more money. If you want to get a full essay, hostelry it on our website:
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