ALBANY, N.Y. (AP) -- New York's top court has upheld the convictions of Tyco International executives sentenced to prison for fraud and larceny for taking more than $100 million in bonuses.
The Court of Appeals rejected claims by former CEO L. Dennis Kozlowski and former CFO Mark Swartz that they were wrongly convicted at a flawed trial in 2005.
They were sentenced to 8 1/3 to 25 years in prison for taking unauthorized pay. Ordered to repay the bonuses, Kozlowski was also fined $70 million and Swartz was fined $35 million.
The 7-0 decision defendants' arguments that the findings of an internal corporate investigation should have been part of the trial and that a lower court overstepped its authority in quashing the defendants' subpoena.