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[bartermania]

Posted by: Alex Chory
In reply to: bartermania who wrote msg# 1440 Date:1/16/2006 4:03:47 PM
Post #of 1441

yes, Tyco has a corporate office in W,Windsor, NJ...

I dont know who would want to own this stock, it is
just so pervasive with fraud IMO, you just never get
rid of it, thats why they are splitting up, but my guess
is there is still a lot of it floating between the ranks.,
deep deep pockets for upper level management.....



jmho
$$$$$

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Tyco acknowledges it was source of $1.6 million pocketed by Abramoff
Thursday January 05, 2006
By SHARON THEIMER
Associated Press Writer
WASHINGTON (AP) 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 West Windsor, N.J.-based company's relationship with Abramoff or on the lobbyist's activities.

Abramoff pleaded guilty this week in Washington to mail fraud, conspiracy and tax evasion in connection with his lobbying activities and in Miami to conspiracy and wire fraud in a 2000 business deal in which he and a partner purchased the SunCruz Casinos fleet of gambling boats.

Abramoff also agreed to cooperate with federal prosecutors trying to find out whether Abramoff bought specific actions from members of Congress, their aides or members of the Bush administration by doling out large campaign contributions and gifts such as meals at his restaurant, use of his skybox and trips abroad. Investigators are examining Abramoff's ties to former House Majority Leader Tom DeLay, R-Texas, and House Administration Committee Chairman Bob Ney, R-Ohio, among other lawmakers.

In court documents released Tuesday as part of Abramoff's guilty plea, prosecutors described some of Abramoff's activities, including his alleged use of a side business to fraudulently funnel millions of dollars from lobbying clients to himself.

Abramoff, then employed by the 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.

In October, Tyco attorney Timothy E. Flanigan withdrew his nomination to be President Bush's deputy attorney general. Flanigan's confirmation was delayed due to questions about his dealings with Abramoff when Abramoff was a Tyco lobbyist.


On the Net:

Tyco International Ltd.: http://www.tyco.com

Documents: http://www.usdoj.gov/criminal/press room/press releases/2006 index.h tml#1