Tyco Scandal (2002)
CEO and CFO stole 150 million dollars and reduce the company income by 500 million
Main players: CEO Dennis Kozlowski and former CFO Mark Swartz
kozlowski and Swarts were sentenced 8-25 years in prison along with a lawsuit for 2.92 billion dollars payed out to investors.
how they were caught
private investigators found huge loans being given to kozlowski and they were later forgiven
How they did it
They used unapproved loans and fraudulent stock sales and disguised it as executive bonuses.
At the height of the scandal Kozlowski threw a 2 million dollar birthday party for his wife on an island complete with a Jimmy Buffett performance.