Dennis Kozlowski to pay $21M in fines

May 12, 2006 at 4:25 PM

NEW YORK, May 12 (UPI) -- Former Tyco International Ltd. leader Dennis Kozlowski has agreed to pay about $21.2 million to settle New York state tax liabilities.

A lawyer for Kozlowski said Friday his client has reached a deal with New York state tax authorities to resolve his outstanding tax liabilities, including sales taxes owed on art work and state income tax from 1995 to 2002, MarketWatch reported.

A prosecutor said authorities are prepared to drop outstanding sales tax fraud charges against Kozlowski if he pays the fines and penalties by Sept. 19.

Kozlowski is appealing his conviction last year on charges including grand larceny, conspiracy and securities fraud.

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