Prosecutor Says Ex-Execs Used Tyco as 'Piggy Bank'

[Khephra]

NEW YORK (Reuters) - Two former top Tyco International Ltd. executives bought the loyalty of their employees and then used the company as their own "personal piggy bank" to loot it of $600 million, Manhattan prosecutors said on Tuesday in closing arguments.

Portraying former Tyco Chairman Dennis Kozlowski and Chief Financial Officer Mark Swartz as greedy, manipulative and deceptive, Manhattan Assistant District Attorney Ann Donnelly told jurors the pair "made no distinction between themselves and the company."

"They are here not because they blurred the line between themselves and Tyco," Donnelly said in her closing argument. "They are here because they obliterated it, because they erased it" in using the company "as their personal piggy bank."

Both defendants occasionally scribbled notes as the prosecution made its last appeal to jurors in one of the biggest corporate corruption cases in U.S. history. Kozlowski, however, looked serious and while Swartz appeared loose and relaxed -- as he has throughout the trial.

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[chascaz]

1. And he learned it all from Larry Bossidy fmr. CEO of Honeywell...

from his roots at Jack Welsh's side at GE.

impush beach won!

Peace - :)