Charge against Tyco pair dropped

Dennis Kozlowski still faces many charges

A corruption charge against two former Tyco executives accused of taking $600m from the firm has been dismissed.

The decision removes one of the most serious charges being faced by former Tyco chairman Dennis Kozlowski and former finance chief Mark Swartz.

The enterprise corruption charge thrown out carries up to 25 years in jail.

But the two are still accused of grand larceny, conspiracy, securities fraud and falsifying documents. Both have denied any wrongdoing.

Lengthy case

Mr Kozlowski and Mr Swartz are accused of stealing $170m from Tyco through unauthorised bonuses and abusing loan programmes.

An additional $430m is said to have been illegally made by the pair by inflating the company's share price through hiding the true state of the company's finances.

But State Supreme Court Justice Michael Obus dismissed a single count of enterprise corruption against the two former Tyco executives.

The enterprise corruption charge is generally used against figure in organised crime.

On Monday, jurors are set to hear final arguments in the trial, which began last September.