Trial of Former Tyco Executives to Resume

Closing arguments in the trial of former Tyco International Ltd. executives L. Dennis Kozlowski and Mark Swartz are expected to resume today after Kozlowski defense lawyer Stephen Kaufman was stricken with the flu early last week.

Kaufman initially thought he could be back in court by last Thursday, but then told the court he would not be physically recovered enough to present his daylong summation until today.

“He’s 74 years old, and it’s just a little harder for him to bounce back,” said James DeVita, another of Kozlowski’s lawyers.

Kozlowski and Swartz are accused of looting $170 million from the company through unauthorized bonuses and loans, and of reaping $430 million by selling Tyco shares after illegally pumping up the stock price.

The trial in New York against the two former executives began Sept. 29 and is now in its sixth month.

Both defendants have pleaded not guilty to the 32-count indictment that could yield maximum sentences of 25 years in state prison.

Last Monday, Charles Stillman, the top defense lawyer for co-defendant Swartz, delivered a six-hour closing argument in which he said his client never acted with criminal intent.

After Kaufman completes his closing arguments, the prosecution is expected to sum up its case on Tuesday with jury deliberations expected to start the following day.