Former top executives of troubled conglomerate Tyco International are expected to face new and wide-ranging criminal and civil charges, as well as a lawsuit from Tyco itself.
The New York Timesand Wall Street Journalreported that Tyco's former chief executive Mr Dennis Kozlowski, former chief finance officer Mr Mark Swartz and former general counsel Mr Mark Belnick were to face charges filed by the Manhattan district attorney's office.
New civil charges were expected from the Securities and Exchange Commission, as well as a lawsuit by the company.
Tyco's lawsuit against Kozlowski will seek the return of his income and benefits since 1997, an amount that is at least 250 million dollars, and the forfeiture of all his severance pay, the Timesreported, citing "people briefed on the plan."
Meanwhile, Manhattan district attorney Mr Robert Morgenthau plans to charge Mr Kozlowski, Mr Swartz, and Mr Belnick on charges that include conspiracy to commit fraud, larceny and enterprise corruption, the reports said.
