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 Monday, October 03, 2005 |
Judge denies bail for ex-Tyco execs during appeal
Alexandria Samuel at 3:12 PM ET
[JURIST] New York state appeals judge Angela Mazzarelli [official profile] Monday denied a bail request by two former Tyco International [JURIST news archive] executives, a decision that will keep the men in jail during their appeal process. Former Tyco CEO Dennis Kozlowski and CFO Kark Schwartz were convicted of grand larceny last month [JURIST report] and sentenced to 8-1/3 to 25 years in prison [JURIST report] for their roles in a scheme to steal hundreds of millions of dollars from the corporation. A New York State Department of Corrections official told reporters that Kozlowski and Swartz will soon be transferred from their current location, a medium security facility, to a maximum security facility, such as Attica or Sing Sing. Reuters has more.
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Paper Chase is JURIST's real-time legal news service, powered by a team of 30 law student reporters and editors led by law professor Bernard Hibbitts at the University of Pittsburgh School of Law. As an educational service, Paper Chase is dedicated to presenting important legal news and materials rapidly, objectively and intelligibly in an accessible, ad-free format.
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