Tyco

About Tyco

Tyco International CEO Dennis Kozlowski was indicted in June 2002 for stealing 600 million from the company. Kozlowski had used company funds for a 2 million birthday party for his wife on the island of Sardinia, featuring an ice sculpture of Michelangelos David urinating vodka. He purchased 6,000 shower curtains, a 15,000 umbrella stand, and 5,000 on artwork. The trial ended in mistrial after a juror allegedly received a threatening phone call. A retrial convicted Kozlowski and CFO Mark Swartz of grand larceny, conspiracy, and securities fraud. Both were sentenced to 8 to 25 years. Kozlowski served over 8 years before being granted parole in 2014. The Tyco scandal became synonymous with corporate excess and greed in the 2000s.