Dennis Kozlowski - Top NY court to hear former Tyco exec's appeal

Fri Feb 29, 2008 

NEW YORK, Feb 29 (Reuters) - New York state's top court has agreed to hear appeals by former Tyco International Ltd executives Dennis Kozlowski and Mark Swartz, who were found guilty of stealing more than $150 million from the company, a court official said on Friday.

A hearing date has not been set, said Gary Spencer, spokesman for the New York State Court of Appeals.

Kozlowski, the former chief executive, and Swartz, the former chief financial officer, were each found guilty in June 2005 of 22 counts of grand larceny, conspiracy, fraud and falsifying business records. Both are serving prison sentences of 8-1/3 to 25 years.

"We believe that there are significant issues," said Stephen Kaufman, a lawyer for Kozlowski. "We are delighted that the court will consider Mr. Kozlowski's appeal."

Swartz's lawyer, Nathaniel Marmur, said they will continue to fight the case until the former executive has been vindicated.

"We are very pleased that the Court of Appeals has agreed to review his case," said Marmur, who is a member at the law firm Stillman, Friedman & Shechtman PC. "We firmly believe in Mr. Swartz's innocence."

In November, the appeals division of New York State Supreme Court had upheld the convictions of the former executives and declined to reduce their sentences. 

Kozlowski served as CEO from 1992 to June 2002. In September 2002, he and Swartz were indicted for looting Tyco.

The case became synonymous with corporate excess after details emerged that Kozlowski had used Tyco money for lavish parties and furnishings for his Manhattan apartment, including artwork, a $6,000 shower curtain and a $15,000 umbrella stand.