Jury goes out in new Tyco trial

Mr Kozlowski denies the charges against him

Jurors have started their deliberations as they consider the evidence against two former Tyco bosses accused of stealing $600m (£321m).

Prosecutors allege Dennis Kozlowski and Mark Swartz used company money to fund lavish lifestyles, in one of corporate America's most high-profile trials.

A previous trial collapsed after six months when a juror received a threatening letter and telephone call.

Mr Kozlowski, ex-CEO, and Mr Swartz, former finance boss, deny the charges.

It is claimed the pair "systemically looted" $150m from the firm over four years, concealing unauthorised bonuses and abusing company loans to buy yachts, jewellery and land.

Lengthy indictment

Mr Kozlowski, 58, and Mr Swartz, 44, are on trial for the second time in New York State Supreme Court - charges include grand larceny, securities fraud, falsifying business records and conspiracy.

The pair could be sent to jail for up to 25 years if convicted of the grand larceny charge, as the jury of six men and six women begin deliberations on the 31-count indictment.

Defence lawyers have said that Tyco's other former board directors had "selective" memories when they testified about events at the company.

This, the defence claimed, was to protect themselves from pending lawsuits by stockholders.

The first trial, which ended after juror Ruth Jordan received a threatening letter and call, collapsed in April 2004, with the second trial starting in January 2005.

Tyco employs 250,000 people in 2,000 locations around the world and sells electronic, healthcare, and plastics supplies.