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Kozlowski Declares His Innocence - - CFO.com (618 words) |
 | Kozlowski and former CFO Mark H. Swartz are accused of stealing $150 million from the company by improperly forgiving company loans to themselves and awarding themselves unauthorized bonuses, reported The New York Times. |
| Kozlowski's testimony was interpreted by some observers as a sign of desperation by his defense attorneys. |
| Regarding the $25 million bonus, Kozlowski pointed out that when he learned he was eligible for a $60 million bonus, he suggested to Hampton that he and Swartz use a portion of their bonuses to repay loans, added the Journal. |
| Complaint: SEC v. L. Dennis Kozlowski, Mark H. Swartz, and Mark A. Belnick (4159 words) |
| Kozlowski and Swartz knew, or were reckless in not knowing, that they were obligated to disclose their improper KELP loans to investors in Tyco's annual reports on Form 10-K and proxy statements — but they failed to do so. |
| Kozlowski and Swartz knew, or were reckless in not knowing, that their related party transactions were not disclosed to investors in Tyco's annual reports filed on Form 10-K and proxy statements filed with the Commission, in violation of the federal securities laws. |
| Kozlowski and Swartz knew, or were reckless in not knowing, that their rent-free apartments, personal use of company aircraft and other perquisites were not disclosed to investors as executive compensation in Tyco's annual reports on Form 10-K and proxy statements, as required by the federal securities laws. |
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