Wednesday, April 27, 2005

The Defense Begins in the Tyco Trial

The prosecution of former Tyco CEO Dennis Kozlowski and former CFO Mark Schwartz begins today after the prosecution rested its case.  This case has largely flown underneath the radar because it's a retrial and there were no new revelations.  The prosecution honed its case this time through, not focusing so much on the salacious aspects, such as the Sardinian birthday party for Kozlowski's wife with the David sculpture -- this is a family-friendly site so I won't go on, but links to the party video are here. One criticism of the prosecution in the first trial was the lack of focus, and this time prosecutors completed their case in 13 weeks, certainly not a quick case but much less than the 18 weeks it took the first time.  The only defense witness in the earlier trial was Schwartz, and there is some speculation that Kozlowski will testify at this trial to establish the "we got paid a lot but everyone knew it" defense.  An AP story (here) discusses the start of the defense case. (ph)

                                                                                 

UPDATE (4/27): The first witness for the defense is Dennis Kozlowski.  In the last trial, Mark Schwartz testified for 9 days, and the cross-examination of Kozlowski will likely take a while.  The Wall Street Journal article on the first phase of the testimony is here. (ph)

http://lawprofessors.typepad.com/whitecollarcrime_blog/2005/04/the_defense_beg.html

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