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Overview
Mark Swartz was the CFO of Tyco International who, along with CEO Dennis Kozlowski, looted the company of over $400 million through unauthorized bonuses, loan forgiveness, and fraudulent stock sales. He was convicted of grand larceny, securities fraud, and conspiracy, serving nearly 7 years in prison.
Key Affiliations
Controversies & Concerns
CORPORATE THEFT: Stole $400+ million from Tyco shareholders
UNAUTHORIZED BONUSES: $62 million in loan forgiveness
SECURITIES FRAUD: Failed to disclose compensation
$6,000 SHOWER CURTAIN: Symbol of excess (Kozlowski trial)
Related Investigations (2)
Criminal Charges & Violations
3 documented violations
NY Penal Law � 155.42Grand larceny in the first degree(Theft)
NY General Business Law � 352-cSecurities fraud(Securities)
NY Penal Law � 105Criminal conspiracy(Federal)
Known Associates & Connections
Dennis Kozlowski
Co-defendant and fellow Tyco executive convicted of fraud
Sources & Documentation
4 documented sources from official records, investigations, and reports
Personal Information
- Born
- 1960
- Birthplace
- Unknown
Education
- •University of Massachusetts Amherst
- •MBA
Key Timeline
1995
Became CFO of Tyco
2002
Resigned, indicted
2005
Convicted on all counts
2005
Sentenced to 8-25 years
2012
Released from prison