Tyco Still Throwing Awesome Parties for Its Execs

By Caleb Newquist,  Newser User
Posted Jul 12, 2010 9:45 PM CDT
Promoted on Newser Jul 13, 2010 10:03 AM CDT

(User Submitted) – 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.

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