Our Common Good

Former Tyco International Chief Financial Officer Mark Swartz, who is serving a prison sentence for looting the company, has sued for $60 million in retirement and other money he says he is owed.

The lawsuit, which was made public on Monday, accuses Tyco of breach of contract and unjust enrichment for not paying him some $48 million from an executive retirement agreement, $9 million in reimbursement for New York taxes, and other money.

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In a case between Tyco and Kozlowski, a federal judge ruled in 2010 that Kozlowski couldn’t collect millions in benefits he claimed were owed him.

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Since September, Swartz has been assigned to Lincoln Correctional Facility in New York city, a minimum-security facility where Kozlowski also is based, according to the state Department of Corrections.

Swartz is on a furlough schedule where he can leave on Wednesdays and return on Monday. He is scheduled to appear before the Parole Board in September 2013.

Kozlowski, whose purchase of a $6,000 shower curtain made him a symbol of corporate greed, was denied parole in April.

Can you imagine any of us committing this kind of fraud and only having to be in prison 2 days a week?  The 1% really do live in a different reality than the rest of us.