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Unformatted text preview: Tyco and Dennis Kozlowskis Fall from Grace Tiffany N. Watt Business Ethics - BA373 E01 December 04, 2010 Tyco and Dennis Kozlowskis Fall from Grace The claims to greatness of Tyco International's chief executive officer (CEO), Leo D. Kozlowski, were shredded in mid-September 2002 when it was revealed that Kozlowski (along with two other colleagues) were borrowing millions from the company without authorization. On September 17, 2002, Kozlowski and his cohorts were indicted on securities fraud charges for allegedly bilking the firm of nearly $600 million. They were accused of stealing more than $430 million through fraudulent sales of Tyco stock and concealing the information from shareholders. In addition, they were charged with misappropriating more than $170 million from the company. Tyco International is a highly diversified global manufacturing company incorporated in Switzerland, with operational headquarters in Princeton, New Jersey. Founded in 1960 by Arthur J. Rosenburg, Tyco was originally opened as a research laboratory to conduct experimental work for the U.S....
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