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CNBC ON DIGG

SEC Finally Settles Its 'Koz'

Published: Tuesday, 14 Jul 2009 | 5:39 PM ET

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By: David Faber
CNBC Anchor and Reporter

We can all rest easy: the SEC has reached a final settlement with Dennis Kozlowski and Mark Swartz, the former CEO and CFO of Tyco who have both spent the last four plus years in jail after being convicted of stealing from that company.

Despite all the companies clamoring to add them as officers or directors once their incarceration is completed sometime in the next decade, the two will not be allowed to ever serve in that capacity again.

What a shame.

And to think it only took the SEC seven years to reach a final judgment. Now that’s justice at work.

No wonder they never caught Madoff.

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