Judge denies bail for ex-Tyco execs during appeal

[JURIST] New York state appeals judge Angela Mazzarelli [official profile] Monday denied a bail request by two former Tyco International [JURIST news archive] executives, a decision that will keep the men in jail during their appeal process. Former Tyco CEO Dennis Kozlowski and CFO Kark Schwartz were convicted of grand larceny last month [JURIST report] and sentenced to 8-1/3 to 25 years in prison [JURIST report] for their roles in a scheme to steal hundreds of millions of dollars from the corporation. A New York State Department of Corrections official told reporters that Kozlowski and Swartz will soon be transferred from their current location, a medium security facility, to a maximum security facility, such as Attica or Sing Sing. Reuters has more.



 

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