Ok, no, first off this is not some down with capitalism speaches, cause I'm definately all for honest business done under the capitalist principle. But do note the word "honest" here. Cause these guys were anything but honest.Two top Tyco company executives busted for corporate fraud
Can anyone say Enron? Well, ok, maybe not THAT bad, but they definately didn't do things the right and honest way. Tyco is a good company, and these two were anything but good. From the sounds of it, they played "the rich and the famous" on the companies tab. In essence it was embezzelment made to look like legitimate company perks. If they're convicted, which I expect they will be, they could both face up to 30 years in jail. Suits me fine. Especially when L. Dennis Kozlowski, the company's former chairman and chief executive, purchased a $5 million diamond ring for his wife in 2001 with a loan through Tyco that was later forgiven illegally according to company rules. That says embezzelment to me. No?
Well, no worries about Tyco going broke anytime soon due to these two idiots. The several hundred million they're responsible for taking from the company and either keeping themselves, or giving as perks to other employees, apparently isn't even a drop in the bucket for Tyco. It probubly wouldn't even respresent a scratch in their finances.