Thursday, June 23, 2005
Careful what you write
According to this amusing Wall Street Journal story (subscription required), the recently found guilty former Tyco CEO Dennis Kozlowski wrote the following letter in 1995 for the trial of a Tyco employee who had stolen almost $1M from the company.
An executive caught stealing money from a company is guilty of a "particularly egregious crime" and "should be sentenced to incarceration for a maximum term," said the 1995 letter to a sentencing official in Houston.
Mr. Kozlowski was found guilty last week of stealing more than $150 million from Tyco, and prosecutors may use the 1995 letter to help argue for a lengthy sentence for him, according to a person familiar with the situation.