Ex-Tyco Chief (Kozlowski) to Settle Tax Evasion Charges (paying $21.2 Mil)

[UpInArms]

http://www.nytimes.com/2006/05/13/business/13tyco.html?ex=1305172800&en=bfebdc22c4ff240a&ei=5088&partner=rssnyt&emc=rss

(free registration or try www.bugmenot.com)

The former chairman of Tyco International, L. Dennis Kozlowski, agreed yesterday to pay $21.2 million to settle charges of avoiding New York sales tax on 12 paintings, including a Monet, a Renoir and a Bouguereau.

The accusation of tax evasion was the beginning of the trail that turned Mr. Kozlowski into a name synonymous with the lavish-spending chief executive, epitomized by such items as a $6,000 shower curtain.

In June 2005, Mr. Kozlowski, and Tyco's former financial chief, Mark H. Swartz, were convicted of stealing $600 million from the company and were sentenced to up to 25 years.

<snip>

After being convicted in the Tyco criminal cased, he was ordered to pay $97 million in restitution and a fine of $70 million, amounts that are separate from the money he agreed to pay yesterday. Mr. Morgenthau said the charges would be dropped if Mr. Kozlowski kept up his end of the settlement.

"We don't believe we're looking a gift horse in the mouth," Mr. Morgenthau said. "The case won't be dismissed unless he comes up with the dough."

...more...

[Demeter]

1. Just How Much Moola Does This Crook Have On Him?

And how much of it was stolen from other people?

[0007]

2. What was given through inheritance was probably stolen and

what he added to the pile is blood money also.

[UpInArms]

3. they say he and Schwartz stole $600 Million .... eom

[Joe Chi Minh]

4. Autodeleted

[WhiteTara]

5. total fines and penalties so far is

$197.2 million dollars. I would say they are taking a nice chunk since his lawyers were probably a few million too. Assuming he and Swartz split it, why the man is almost poor! :nopity: