Kozlowski Sought to Hide Fee, Witness Says
Former Tyco International Ltd. director Frank Walsh told jurors that L. Dennis Kozlowski, on trial for fraud, asked him not to tell other board members about a $20-million finder’s fee Walsh received for helping arrange an acquisition.
Prosecutors have accused former Tyco Chief Executive Kozlowski and former finance chief Mark Swartz of paying Walsh the fee without the board’s approval. The charge is among the 31 counts of grand larceny, conspiracy and securities fraud that the two men are facing for a second time after a mistrial in April.
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