Tyco Still Throwing Awesome Parties for Its Execs

By Caleb Newquist,  Newser User
Posted Jul 12, 2010 9:45 PM CDT Posted Jul 12, 2010 9:45 PM CDT
Promoted on Newser Jul 13, 2010 10:03 AM CDT
Tyco Still Throwing Awesome Parties for Its Execs
   (AP)

Tyco became infamous in the early Aughts for throwing lavish parties for its top executives—Roman orgy parties, no less, that were used by prosecutors against then-CEO Dennis Kozlowski. Kozlowski's in lockup for fraud, but these days, it sounds as if kick-ass parties are still the norm. A former accountant is suing Tyco for dismissing him after making a fuss over mermaid greeters, a tattoo artist and $1,000/night hotel rooms for another bash.

Jeffrey Wiest says he objected to a 5-day, $350,000 fling at the Atlantis Resort in the Bahamas in 2008, which included just 1.5 hours of meeting. When he refused to process payment as a business expense, the accounting was changed to show each employee's share as income, and they were "grossed up"—paid another $7,500 per person to cover taxes they would have had to pay. Read about other Tyco parties he considered fraudulent here. (More Tyco stories.)

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