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twitterFormer director arrested
Tuesday, Dec. 17, 2002 | 9:40 a.m.
NEW YORK -- The former lead director of Tyco International Inc. was arrested today on securities fraud charges for allegedly failing to tell his own board that the company was paying him a multimillion-dollar finder's fee.
Prosecutors allege Frank E. Walsh, 61, did not disclose $20 million in payments for helping broker Tyco's acquisition of CIT Group.
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