The former head of Tyco's tax department was sentenced Wednesday to three years in prison for failing to report more than $170-million in income at the high-tech manufacturing and services conglomerate.
Raymond Scott Stevenson, of Delray Beach, received the maximum prison sentence after pleading guilty in September to wrongdoing while serving as vice president of taxation for Tyco International Ltd. Prosecutors claimed the defendant back-dated documents in 1999 to reduce the company's tax liability.
If the correct amount had been reported on Tyco's filings, the company would have faced additional tax liability of up to $60-million.
"Today's prison sentence is a reminder that tax laws apply equally to everyone," U.S. Attorney Alex Acosta said.
Stevenson's attorney could not be reached on Wednesday.
Tyco manufactures a wide array of products, including telecommunications equipment and home alarm systems. Stevenson ran the company's tax department from Boca Raton.