Democrats face dubious voters on healthcare
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Ex-Tyco bosses ask NY court to overturn convictions
A court sketch of former chef executive of Tyco International Dennis Kozlowski and former chief financial officer Mark Swartz (L) being convicted for grand theft larceny, securities fraud, and other charges in New York on September 19, 2005. Lawyers for Kozlowski and Swartz told an appeals court on Thursday that a key prosecution witness prejudiced the jury that found them guilty of using the conglomerate as their own piggy bank and stealing more than $150 million.
Credit: Reuters/Sketch by Andrea Shepard
NEW YORK (Reuters) - Lawyers for ex-Tyco bosses Dennis Kozlowski and Mark Swartz told an appeals court on Thursday that a key prosecution witness prejudiced the jury that found them guilty of using the conglomerate as their own piggy bank and stealing more than $150 million.
In a hearing at New York State Supreme Court's appellate court, lawyers asked a four-judge panel to overturn the guilty verdicts from 2005 against Kozlowski, who was chief executive of Tyco International Ltd, and Swartz, who was the company's chief financial officer.
Kozlowski, 60, and Swartz, 47, were convicted and sentenced to 8-1/3-to-25 years in prison after a trial that shone a light on corporate compensation and corporate excess in America.
Prosecutors said Kozlowski and Swartz stole millions of dollars from Tyco and used the money to buy pricey artwork, throw lavish parties and furnish a fancy Manhattan apartment for Kozlowski with a $6,000 shower curtain and a $15,000 umbrella stand.
But defense lawyers argued that the trial testimony of David Boies, a lawyer hired by the Tyco in 2002 to conduct an internal investigation, unfairly prejudiced the jurors against the defendants.
Boies testified that Swartz told him that a bonus he received was a "mistake", which he would repay.
Kozlowski's appeals lawyer, John Martin, said that testimony "totally destroyed" the defense contention that the men were entitled to their bonuses, and it should not have been allowed.
Assistant District Attorney Amyjane Rettew argued before the appeals panel that the verdict showed the jury did not find Kozlowski and Swartz's claims that the bonuses were earned were credible.
The two men were found guilty after their original trial ended in a mistrial. Neither man appeared in court on Thursday.
The court is expected to rule on the case within six weeks.
