NEW YORK (Reuters) - Former Tyco International Ltd. Chief Executive Dennis Kozlowski and finance chief Mark Swartz were found guilty today of stealing more than $150 million in secretly forgiven loans and unauthorized bonuses from the company.

The jury of six women and six men returned their verdict on the 11th day of deliberations. The trial in State Supreme Court in Manhattan lasted more than four months.

This is the second time the two men -- who built Bermuda-registered Tyco into one of the world's biggest manufacturing conglomerates -- have been tried on allegations they misused company funds. The first case ended in a mistrial last year when a juror reported receiving a telephone call and a threatening letter about the case during deliberations.

Kozlowski, 58, was found guilty of conspiracy, fraud and falsifying business records.

The jury found Swartz, 44, guilty of grand larceny, securities fraud and eight of nine counts of falsifying business records.

Both former executives were found not guilty on one of the charges of falsifying false documents.

Both men faced 25 years in prison on the most serious charge of grand larceny.

The verdict is the latest in a string of government prosecutions aimed at convicting corporate chieftains of boardroom wrongdoings.

In March, former WorldCom Inc. Chief Executive Bernard Ebbers was found guilty of masterminding an $11 billion fraud that forced the telecommunications company into bankruptcy. A jury in Birmingham, Alabama, is still deliberating the fate of former HealthSouth Corp. CEO Richard Scrushy, who is accused of orchestrating a $2.7 billion accounting fraud.

Prosecutors said Kozlowski and Swartz defrauded the company by taking secret loans and unwarranted bonuses between 1999 and 2001.

The two also were accused of defrauding shareholders by selling $575 million in Tyco stock while misrepresenting the company's financial condition.

TRIAL TWO

Prosecutors concentrated more heavily on the specifics of the charges in the retrial than in the first trial.

The earlier trial lasted six months and focused on Kozlowski's lavish spending habits -- such as a $6,000 shower curtain he bought for a Tyco-owned apartment in Manhattan and a week-long 40th birthday party for his wife on the island of Sardinia that cost $2 million.

Kozlowski took the stand in his own defense, after declining to testify in the first trial. He testified that his pay package was "confusing" and "almost embarrassingly big" but that he never committed a crime as the company's top executive.

Judge Michael Obus presided over both of the trials.

Since Kozlowski was charged in 2002, the company has been reorganized under new CEO Edward Breen. The company, whose products range from printed circuit boards for electronics to hypodermic needles, is based in Pembroke, Bermuda.