New York prosecutors are exploring bringing charges against former Tyco director Mr Frank Walsh over a payment he received for helping Tyco acquire CIT Group, the Wall Street Journalreported today.
Three former Tyco officials, including ex-chief executive Mr Dennis Kozlowski, have already been indicted by Manhattan prosecutors, and witnesses continue to appear before a grand jury that is hearing evidence about possible wrongdoing at the company, including the receipt by individuals of unauthorised compensation.
In addition to Mr Walsh, at least two other former Tyco executives are under intense scrutiny, the Journalreported.
In July 2001, Tyco paid $10 million in cash to Mr Walsh and another $10 million to a charitable fund of which he is trustee, according to the report.