Tyco scandal

by: Jared Sheehan, Kara Sullivan and Jasmine Suydan

New Jersey Based Company Blue-Chip Swiss Security Systems Company

The CEO and CFO of the blue-chip Swiss security system stole 150$ million to inflated the company income by 500$ million.

Dennis Kozlowski (CEO) and Mark Swartz (former CFO) got caught when the SEC and Manhatten DA invenstagation uncovered questionable accounting practices. The penalty for Kozlowski and Swartz was 8-25 years, a class-action lawsuit forced Tyco to pay 2.92 billion back to the investors.