New York–A State court judge approved a $50 million bail package offered for Mark Swartz, the former chief financial officer who is accused of stealing $600 million from the company. Swartz�s family members posted $5 million in stock and real estate as security.

Swartz, 41, was indicted last month along with L. Dennis Kozlowski, 55, Tyco�s former chairman and chief executive officer, on charges of enterprise corruption and grand larceny. Two weeks ago, the same judge approved a $100 million bail package offered for Mr. Kozlowski. His ex-wife posted $10 million as security. Both have pleaded not guilty.

The next hearing in the case is scheduled for November 7.

(via The Associated Press)