The $2,900 Coat Hangers
The jury in the embezzlement trial of Tyco tycoon Dennis Kozlowski can wade
through 300 pages of invoices to figure out how decorators spent $7 million on
his apartment. Manhattan, N.Y., prosecutors released the invoices that reveal
decorators spent $515 on a toaster, $2,900 for coat hangers and $4,050 for a
tablecloth, among other items, the New York Post reports. In their case against
Kozlowski, prosecutors say the executive charged everything to Tyco as
unauthorized compensation. Kozlowski attorneys defend the purchases as an
investment because the apartment was listed on Tyco's books as an asset and
Kozlowski used it for business purposes.
Charles
Mims
http://www.the-sandbox.org
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