Tyco stock scandal
In 1992, Dennis Kozlowski became Tyco International's CEO. Tyco was considered a blue chip and financially sound company, so investors could never have guessed that Kozlowski was skimming millions of dollars off the top through $450 million of unapproved stock sales and $170 million of unauthorized loans. Yesterday, before the report was released, Tyco's stock rose 20 cents, to $15.35. becoming the first board member to be charged with a crime in the recent wave of corporate scandals. He