NEW YORK – A state judge Tuesday denied a request by prosecutors to jail former Tyco International Ltd. (search) CEO L. Dennis Kozlowski (search) and former finance chief Mark Swartz (search) until they are sentenced next month for looting the company.
Manhattan prosecutors had argued that former Kozlowski and Swartz were risks to flee before their sentencing on Sept. 19.
But state Supreme Court Justice Michael Obus said he believed it was unlikely the pair would flee.
Kozlowski and Swartz were convicted in June of stealing $600 million from Tyco. They face up to 30 years in prison.
The defendants are free on bail.
Defense lawyers pointed out to the judge in a brief hearing Tuesday that their clients had showed up for trial and for Tuesday's hearing.
"My client's been here since Day One," Swartz lawyer Charles Stillman said.
Prosecutors had argued the pair had access to bank and brokerage accounts that they could use to flee. But defense lawyers said those institutions were under clear instructions not to disperse the cash.