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Former CFO indicted

Thursday, Feb. 20, 2003 | 9:51 a.m.

NEW YORK -- The former chief financial officer of Tyco International, Mark H. Swartz, was indicted Wednesday by a federal grand jury in New Hampshire on a charge of tax evasion, adding to state charges against him that include looting the company of hundreds of millions of dollars.

He is scheduled to appear in court today for a bail hearing and a trial date.

The charges allege that Swartz failed to include on his 1999 tax return a $12.5 million bonus he received from Tyco in August 1999. The indictment said the bonus was the forgiveness of a $12.5 million debt Swartz owed the company.

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