On September 19, 2005, L. Dennis Kozlowski, former CEO of Tyco International, and Mark Swartz, former CFO of Tyco International, were sentenced to 8 1/3 to 25 years in prison. Kozlowski and Swartz were convicted of a dozen grand larcenies, falsifying business records, securities fraud, and conspiracy. Kozlowski allegedly stole about $150 million from Tyco and gained another $430 million by manipulating the stock price. Kozlowski threw a $2.1 million Roman-themed party for his wife in 2001 at company expense.

Bernard J. Ebbers, former CEO of WorldCom, was convicted of masterminding an $11 billion accounting fraud that bankrupted the company and was sentenced to 25 years in prison. For similar crimes, John J. Rigas, the 80-year-old founder of Adelphia Communications, was sentenced to 15 years in prison. Kenneth Lay, former chairman of the board of Enron, Jeffrey Skilling, former CEO of Enron, and Rick Causey, former top accountant of Enron, are all scheduled for trial in 2006 on similar charges. Enron, WorldCom, and Adelphia were all forced to file for bankruptcy protection as a result of their actions.

Source: Adapted from Mary Flood, "Enron: Potential Jurors Will Have Their Hands Full," Knight Ridder Tribune Business News, October 8, 2005, p. 1; and Andrew Ross Sorkin, "How Long to Jail White-Collar Criminals?" New York Times, September 16, 2005, p. C.1.