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twitterFormer CFO denies wrongdoing
Wednesday, Feb. 11, 2004 | 9:16 a.m.
NEW YORK -- In his first day of testimony in his trial on criminal fraud charges, Mark H. Swartz, the former chief financial officer of Tyco International, told jurors on Tuesday that he had never broken the law while at Tyco.
Also Tuesday, lawyers for L. Dennis Kozlowski, Tyco's former chief executive and Swartz's co-defendant in the case, rested his defense without calling any witnesses. Swartz is the first witness for the defense to testify in the case.
Prosecutors have charged Swartz and Kozlowski with stealing $170 million from Tyco by hiding details of their pay packages from the company's board as well as making $430 million by selling the company's stock after artificially pumping up its price.
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