Tyco International, one of the most high-profile offenders in the corporate corruption scandals earlier this decade, settled a four-year investigation by the Securities and Exchange Commission last week and paid a $50 million fine for allegations that the company’s former management schemed to inflate results by at least $1 billion over a six-year period.
Without admitting or denying the SEC’s charges, Tyco agreed to an injunction and the $50 million civil penalty along with $1 in disgorgement. Tyco previously reported the $50 million charge in its public filings as its best estimate of the amount it would likely pay to resolve the SEC probe.
