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Article: Tyco to Pay $5 Million to Settle New Hampshire Fraud Investigation.

Article from:
Knight Ridder/Tribune Business News
Article date:
October 24, 2002
Copyright

By Nancy Dillon, Daily News, New York Knight Ridder/Tribune Business News

Oct. 24--Tyco, former home to corporate greed poster-boy Dennis Kozlowski, will pay $5 million to settle a fraud probe brought by New Hampshire state regulators.

The scandal-rocked company did not admit guilt.

Even so, the settlement alleged former Tyco execs and directors helped themselves to millions in unauthorized compensation, filed false regulatory statements and failed in their audit duties.

The New Hampshire office of securities regulation initiated the probe to defend state corporate governance laws and shareholder rights.

Though ...

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