Former Tyco Company Exec Sentenced in Tax Fraud Case
By Katie Hauser
Published on November 30, 2006
The former vice president of taxation for Tyco International Ltd., the services and high-tech manufacturing conglomerate, pleaded guilty to tax fraud in September. According to prosecutors, Stevenson back-dated documents so Tyco could avoid paying more taxes for the 1999 fiscal year. If he had correctly reported the company’s earnings, it is alleged, Tyco would have been liable for up to $60 million more than they paid.
Two other previous Tyco executives, former CEO Dennis Kozlowski and former CFO Mark Swartz, were convicted last year on counts of securities fraud, falsifying business records, grand larceny and conspiracy.
Keyword Tags: