January 26, 2005
The Prosecution Opens - Tyco Execs
The prosecution gave its opening statement in the retrial of Dennis Kozlowski, Tyco's former chief executive officer, and Mark Swartz, the company's former finance chief. According to an AP report on the trial, the prosecution has made some changes in the way they are proceeding. This news story reports that, "[a]bsent from [the prosecutor's] opening was the assertion made by prosecutors in the first trial that Kozlowski and Swartz had stolen $600 million by outright theft and by deceiving the government and the public and defrauding Tyco shareholders." Additionally, there was no mention of the shower curtain, something we discussed in a prior post.
It sounds like the prosecution is not going to be trying to overwhelm the jury with testimony of extravagant spending by Kozlowski. This may also mean that the trial may not be lasting the six months seen in the last trial.
Retrials present all kinds of strategic issues. It will interesting to see if the defense pursues the same, when they open tomorrow.