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 NEW YORK (AP) - A judge on Monday refused to release former Tyco International executives L. Dennis Kozlowski and Mark Swartz on bail while they appeal their convictions on charges of stealing some $600 million from the company.
The order was signed by Justice Angela Mazzarelli of the State Supreme Court's Appellate Division in Manhattan. It was Mazzarelli who heard the pair's bail applications and arguments on Sept. 20.
Kozlowski, 58, and Swartz, 45, have been in custody since they were sentenced Sept. 19 to eight and one-third to 25 years in prison. They were convicted in June on first-degree grand larceny and other charges related to accusations they stole $180 million outright and improperly made some $430 million by manipulating Tyco's stock value.
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