NEW YORK, April 28 (UPI) -- Tyco International's former head portrayed himself as a successful but distracted company builder in his New York trial on charges of corporate wrongdoing.
Dennis Kozlowski, Tyco's one-time chief executive whose first trial ended in a hung jury, offered clearly prepared answers to his lawyer's questions, the New York Times reported Thursday.
Kozlowski portrayed himself Wednesday as a well-intentioned empire builder who created jobs for hundreds of thousands of people but was not aware of all the details of his company's or his own finances.
Prosecutors plan to cross-examine him Thursday.
Kozlowski and Tyco's former chief financial officer, Mark Swartz, are accused of stealing $150 million by improperly forgiving company loans to themselves and giving themselves unauthorized bonuses. They are also accused of profiting illegally by selling $575 million worth of Tyco shares whose value they had artificially inflated. They face as many as 25 years in prison if convicted.
