Tyco’s head of taxation gets three years in prison
From the Associated Press
The former head of Tyco International Ltd.’s tax department was sentenced to three years in prison for failing to report more than $170 million in income at the company.
Raymond Scott Stevenson of Delray Beach, Fla., received the maximum prison sentence after pleading guilty in September to wrongdoing while serving as vice president of taxation for Princeton, N.J.-based Tyco.
Prosecutors claimed that the defendant had backdated documents in 1999 to reduce the company’s tax liability.
