Las Vegas Sun

April 26, 2024

Former Tyco CEO pleads innocent

NEW YORK -- The former chief executive of Tyco International Ltd. pleaded innocent to charges of avoiding more than $1 million in sales tax for high-priced paintings he displayed in his posh apartment overlooking Central Park.

Dennis Kozlowski surrendered to authorities Tuesday, just a day after resigning as CEO of the troubled manufacturing company that makes everything from coat hangers to underwater fiber-optic cable.

He was released on $3 million bond and instructed not to leave the country without written permission from the court.

Kozlowski had no comment, but his lawyer, Stephen Kaufman, called the charges "unsubstantiated."

archive