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Tyco acknowledges past payment to Abramoff
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| Contributor | RP |
| Last Edited | RP Jan 06, 2006 08:09pm |
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| Category | General |
| News Date | Friday, January 6, 2006 01:30:00 AM UTC0:0 |
| Description | Tyco International, whose former CEO became a symbol of corporate corruption, acknowledged Thursday it is the Jack Abramoff client referred to as “Company A” in court documents describing the lobbyist’s scheme to funnel millions of dollars in lobbying fees to himself.
Tyco hired Abramoff in 2003 to lobby for it on a tax issue, said company spokeswoman Sheri Woodruff. She declined to comment further on the New Jersey-based company’s relationship with Abramoff or on the lobbyist’s activities.
Tyco hired Abramoff and GrassRoots Interactive. In May and June 2003, Tyco paid GrassRoots Interactive, directly and through Greenberg Traurig’s bank account, about $1.8 million, of which about $1.6 million went to Abramoff and entities he controlled, prosecutors say.
Last year, Tyco’s former chief executive, L. Dennis Kozlowski, and chief financial officer, Mark H. Swartz, were sentenced to prison for grand larceny, conspiracy, securities fraud and falsifying business records. They are accused of conspiring to defraud Tyco of millions of dollars to fund lavish lifestyles. Both are appealing their convictions. |
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