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Established in 1996 |
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Sunday, October 6, 2024 |
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Kozlowski Charged With Avoiding Sales Tax on Art |
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NEW YORK.- Dennis Kozlowski was charged with illegally avoiding 1 million dollars in sales tax on paintings with works taht include Monet and Renoir. Kozlowski built Tyco International into a large conglomerate. He resigned as chairman and chief executive Monday when news got out that there was an investigation on him. Tuesday he pleaded innocent and was released on a 3 million dollar bail. The charges on Kozlowski are sales tax violations, tampering with evidence and falsifying business records on around 13 million dollars in paintings. According to prosecutors, Kozlowski and other people agreed to create phony invoices and shipping documents to make it look as if the art was going out of state and would then not be covered by New York state sales tax. Among the works that Kozlowski bought are "Fleurs et Fruits" by Pierre Auguste Renoir and "Pres Monte Carlo" by Claude Monet.
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