110:
to serve from eight years and four months to twenty-five years in prison for his role in the scandal. In addition, Kozlowski and Swartz were ordered to pay a total of $ 134 million in restitution. Kozlowski was further fined $ 70 million, while Swartz was fined $ 35 million. Both were convicted on
105:
Along with former Tyco chief financial officer Mark Swartz, Kozlowski was convicted on June 17, 2005 of crimes related to his receipt of $ 81 million in purportedly unauthorized bonuses, the purchase of art for $ 14.725 million and the payment by Tyco of a $ 20 million investment banking fee to Frank
35:
He served more than six and a half years in New York state prisons, and was released in 2014. Separately, Tyco filed suit against
Kozlowski and prevailed, with the court finding that the $ 500 million in compensation and benefits he received during his time of disloyalty, between 1997 and 2002, were
182:
In 2009, before his trial, Kozlowski asserted his innocence by stating, saying "I am absolutely not guilty of the charges. There was no criminal intent here. Nothing was hidden." After his conviction, but before his appeal was complete, he again denied his guilt, saying that the jury had found him
764:"OPINION: Tyco's motion for partial summary judgment is granted as to their first, second, third, eighth, ninth, and eleventh causes of action, and denied as to their fourth, fifth, sixth, seventh, tenth, and twelfth causes of action for Tyco International, et al v. Kozlowski"
52:. His mother, Agnes (née Kozell), worked for the Newark Police Department and as a school crossing guard, and his father, Leo Kelly Kozlowski, worked for the Public Service Transport. His parents were second-generation Polish-Americans. Kozlowski attended
32:, convicted in 2005 of crimes related to his receipt of $ 81 million in unauthorized bonuses, the purchase of art for $ 14.725 million and the payment by Tyco of a $ 20 million investment banking fee to Frank Walsh, a former Tyco director.
101:
towards
Kozlowski's lawyers. Kozlowski testified on his own behalf during the second trial, stating that his pay package was "confusing" and "almost embarrassingly big," but that he never committed a crime as the company's top executive.
183:
guilty simply on the basis of his huge salary. In a 2013 parole hearing, Kozlowski admitted his culpability, saying, "It was greed, pure and simple. ... I feel horrible ... I can't say how sorry I am and how deeply I regret my actions."
145:
In April 2012, the parole board denied
Kozlowski's request for discretionary release. He was granted work release in 2012, and after a parole hearing, he was conditionally released on January 17, 2014. His parole ended in 2015.
237:. In a camcorder video, Dennis Kozlowski states that this party will bring out a Tyco core competency – the ability to party hard. Subsequently, this shareholder meeting/birthday party became known as the Tyco Roman Orgy.
173:
with his third wife, Kimberly. The couple had a passing acquaintance in the 1990s, and reconnected in prison after she wrote him. After exchanging letters, she visited him in prison; they married after his release.
89:'s expectations and through a series of strategic mergers and acquisitions, ushered in a new era of mega-conglomerates. Kozlowski left Tyco in 2002, amid a controversy in regard to his compensation package.
165:
Kozlowski ultimately paid $ 167 million in restitution and fines, evaporating almost all of his wealth. In 2015, following his release, Kozlowski lived in a two-bedroom apartment in the
149:
Tyco sued
Kozlowski, asserting that the $ 500 million in compensation and benefits he received during his time of disloyalty, between 1997 and 2002, were forfeit under New York's "
845:
808:
202:
Tyco paid $ 1 million (half of the $ 2 million bill) for the 40th birthday party of
Kozlowski's second wife, Karen Mayo Kozlowski. The extravagant party, held on the
82:
Although
Kozlowski was one of America's highest-paid executives, Tyco spent millions to benefit him, financing personal extravagances and secretly forgiving loans.
115:, securities fraud and conspiracy. His aggregate minimum sentence was set at 8 years and 4 months, and his aggregate maximum sentence was 25 years. In 2009, the
745:
633:
1046:
1031:
97:
Kozlowski was tried twice. The first attempt was a ruled mistrial when one of the jurors was threatened by the public after being reported to have made an
956:
A Hill and A Michaels, 'Paw taste condemns
Kozlowski: Report says Tyco bought $ 15,000 dog umbrella stand for chief's apartment' (September 18, 2002)
157:
concluded that under the faithless servant doctrine, Kozlowski must forfeit all compensation and benefits he earned during his period of disloyalty.
976:
700:
191:
Kozlowski has been married three times, and has grandchildren. Kozlowski became notorious for his extravagant lifestyle, supported by the booming
1026:
259:
island for $ 5 million. While in prison, he sold the mansion to pay fines and restitution, listing the property for $ 23 million in June 2006.
827:
612:
1001:
1006:
715:
1011:
908:
1021:
420:
896:
763:
1036:
855:
401:
374:
347:
565:
996:
475:
270:
in 1999, and resigned from the board in 2002, after the scandal emerged. He also was head of the board of trustees of
937:
725:
637:
540:
123:
583:
131:
515:
1041:
252:, in July 2006, a few months after he was sentenced to prison. A divorce settlement was reached in 2008.
112:
660:
494:
249:
106:
Walsh, a former Tyco director. On
September 19, 2005 he was sentenced by Judge Michael Obus of the
781:
271:
107:
457:
1016:
391:
364:
166:
72:
53:
991:
684:
275:
222:
79:, where Kozlowski had a home. At one point, 1,650 Tyco employees were based in Boca Raton.
294:
8:
971:
245:
76:
584:
Dennis
Kozlowski Reveals What Happens after You Serve Your White-Collar Prison Sentence
263:
116:
49:
29:
68:
in 1992. With
Kozlowski at the helm, Tyco massively expanded during the late 1990s.
721:
440:
397:
389:
370:
343:
267:
199:
apartment which included $ 6,000 shower curtains and $ 15,000 "dog umbrella stands".
150:
37:
920:
717:
Taking Down the Lion: The Triumphant Rise and Tragic Fall of Tyco's Dennis Kozlowski
511:
195:
of the late 1990s and early 2000s; allegedly, he had Tyco pay for his $ 30 million
958:
850:
685:
Inmate Information » NYS Department of Corrections and Community Supervision
337:
320:
134:
in New York City. While in prison, he met other high-profile convicts, including
127:
139:
985:
335:
234:
214:
196:
154:
255:
In the 1990s, Kozlowski purchased an oceanfront estate in the Squam area of
362:
218:
192:
879:
520:
227:
86:
122:
During his six and a half years in prison, Kozlowski served time at the
71:
In 1999, Tyco began shifting the company's headquarters operations from
256:
170:
393:
Strategic Management: Competitiveness and Globalization : Cases
977:
Partial transcript of the CBS 60 Minutes interview from cbsnews.com
498:
210:
390:
Hitt, Michael A.; Ireland, R. Duane; Hoskisson, Robert E. (2009).
241:
135:
98:
613:
After prison, $ 167 million in restitution and fines, he's free
206:
230:
203:
441:
Tyco Spent Millions for Benefit of Kozlowski, Its Former CEO
266:, where his two daughters attended; he joined the college's
678:
687:. Nysdoccslookup.doccs.ny.gov. Retrieved January 25, 2013.
65:
25:
363:
Ferrell, O. C.; Fraedrich, John; Ferrell, Linda (2008).
336:
Torrado-Caputo, Vanessa; Mazurkiewicz, Margaret (2005).
809:"Ex-Tyco CEO Kozlowski says he stole out of pure greed"
746:"Ex-Tyco CEO Dennis Kozlowski ordered to forfeit pay"
278:, after his daughters had graduated from the school.
634:"Ex-Tyco CEO Dennis Kozlowski Released from Prison"
421:
Former Tyco chief, Boca Raton con says he’s changed
701:"The Essential Lessons of the "Faithless Servant""
366:Business Ethics: Ethical Decision Making and Cases
921:Kozlowski Seeks $ 23 Million For Nantucket Estate
695:
693:
92:
983:
828:"Tyco's 'Piggy,' Out of Prison and Living Small"
524:, September 19, 2005. Retrieved October 7, 2016.
36:forfeited back to the company under New York's "
566:Ex-Tyco execs lose appeal at U.S. Supreme Court
435:
433:
339:International directory of business biographies
739:
737:
690:
775:
773:
578:
576:
574:
541:"Ex-Tyco CEO Dennis Kozlowski denied parole"
534:
532:
530:
476:""Tyco Trial II: Verdict First, Law Second""
430:
1047:American businesspeople convicted of crimes
1032:Prisoners and detainees of New York (state)
938:Kozlowski Quits Board of Daughters' College
734:
892:
890:
888:
875:
873:
770:
608:
606:
604:
602:
600:
598:
596:
492:
244:in May 2001; they maintained a mansion in
177:
636:. CEPRO. January 17, 2014. Archived from
571:
527:
806:
415:
413:
64:Kozlowski joined Tyco in 1975, becoming
885:
870:
846:"Top 10 Crooked CEOs: Dennis Kozlowski"
743:
593:
1027:Businesspeople from Newark, New Jersey
984:
880:Ex-Tyco chief's wife files for divorce
825:
779:
744:Stempel, Jonathan (December 2, 2010).
714:Neal, Catherine S. (January 7, 2014).
658:
652:
119:declined to hear Kozlowski's appeal.
626:
458:""Judge Declares Kozlowski Mistrial""
439:Mark Maremont & Laurie P. Cohen,
410:
59:
24:(born November 16, 1946) is a former
807:Freifeld, Karen (December 5, 2013).
782:"Dennis Kozlowski: Prisoner 05A4820"
780:Schorn, Daniel (February 11, 2009).
713:
659:Merced, Michael (December 3, 2013).
911:, Associated Press (June 23, 2006).
909:Ex-Tyco boss selling island mansion
899:, Associated Press (July 17, 2008).
396:. Cengage Learning. pp. 323–.
369:. Cengage Learning. pp. 334–.
160:
13:
1002:American people convicted of fraud
950:
568:, Associated Press (June 8, 2009).
14:
1058:
1007:American people of Polish descent
965:
538:
516:Kozlowski sentenced in Tyco trial
493:Grace Wong (September 19, 2005).
1012:American prisoners and detainees
186:
16:American businessman and convict
1022:People from Boca Raton, Florida
930:
914:
902:
838:
826:Kaplan, David A. (March 2015).
819:
800:
756:
707:
559:
505:
495:"Kozlowski gets up to 25 years"
486:
124:Mid-State Correctional Facility
854:. June 9, 2009. Archived from
468:
450:
383:
356:
329:
313:
287:
93:Scandal, trial, and conviction
85:The company consistently beat
1:
972:The Infamous Party Invitation
897:Ex-Tyco chief settles divorce
882:, NBC News (August 16, 2006).
661:"Kozlowski Is Granted Parole"
281:
240:Dennis married Karen Mayo in
132:Lincoln Correctional Facility
43:
1037:Seton Hall University alumni
295:"Dennis Kozlowski.biography"
111:22 counts of grand larceny,
7:
720:. St. Martin's Publishing.
248:. She filed for divorce in
153:" doctrine. In 2010, Judge
113:falsifying business records
10:
1063:
250:Palm Beach County, Florida
997:American chief executives
262:Kozlowski was a donor to
233:and a private concert by
56:, a Catholic university.
178:Commenting on his trial
108:Manhattan Supreme Court
48:Kozlowski was born in
944:(September 25, 2002).
73:Exeter, New Hampshire
54:Seton Hall University
640:on February 23, 2017
325:. McGraw-Hill. 2002.
276:South Berwick, Maine
22:Leo Dennis Kozlowski
925:Wall Street Journal
703:. December 6, 2010.
445:Wall Street Journal
342:. St. James Press.
77:Boca Raton, Florida
1042:Tyco International
832:The New York Times
665:The New York Times
419:Alexandra Clough,
264:Middlebury College
117:U.S. Supreme Court
60:Tyco International
50:Newark, New Jersey
30:Tyco International
447:(August 7, 2002).
403:978-0-324-58113-3
376:978-0-618-74934-8
349:978-1-55862-556-3
268:board of trustees
151:faithless servant
38:faithless servant
1054:
945:
934:
928:
927:(June 23, 2006).
918:
912:
906:
900:
894:
883:
877:
868:
867:
865:
863:
858:on June 12, 2009
842:
836:
835:
823:
817:
816:
804:
798:
797:
795:
793:
777:
768:
767:
760:
754:
753:
741:
732:
731:
711:
705:
704:
697:
688:
682:
676:
675:
673:
671:
656:
650:
649:
647:
645:
630:
624:
623:(March 3, 2015).
610:
591:
580:
569:
563:
557:
556:
554:
552:
539:Riley, Charles.
536:
525:
512:Associated Press
509:
503:
502:
490:
484:
483:
482:. June 17, 2005.
472:
466:
465:
464:. April 2, 2004.
454:
448:
437:
428:
427:(March 2, 2015).
417:
408:
407:
387:
381:
380:
360:
354:
353:
333:
327:
326:
317:
311:
310:
308:
306:
291:
161:Post-prison life
1062:
1061:
1057:
1056:
1055:
1053:
1052:
1051:
982:
981:
968:
959:Financial Times
953:
951:Further reading
948:
935:
931:
919:
915:
907:
903:
895:
886:
878:
871:
861:
859:
844:
843:
839:
824:
820:
805:
801:
791:
789:
778:
771:
762:
761:
757:
742:
735:
728:
712:
708:
699:
698:
691:
683:
679:
669:
667:
657:
653:
643:
641:
632:
631:
627:
621:Tampa Bay Times
611:
594:
582:Kia Makarechi,
581:
572:
564:
560:
550:
548:
537:
528:
510:
506:
491:
487:
474:
473:
469:
456:
455:
451:
438:
431:
425:Palm Beach Post
418:
411:
404:
388:
384:
377:
361:
357:
350:
334:
330:
319:
318:
314:
304:
302:
293:
292:
288:
284:
272:Berwick Academy
189:
180:
163:
130:, and then the
128:Marcy, New York
95:
62:
46:
17:
12:
11:
5:
1060:
1050:
1049:
1044:
1039:
1034:
1029:
1024:
1019:
1014:
1009:
1004:
999:
994:
980:
979:
974:
967:
966:External links
964:
963:
962:
952:
949:
947:
946:
936:Nancy Dillon,
929:
913:
901:
884:
869:
837:
818:
799:
769:
755:
733:
726:
706:
689:
677:
651:
625:
617:New York Times
592:
570:
558:
526:
504:
485:
467:
449:
429:
409:
402:
382:
375:
355:
348:
328:
312:
301:. A+E Networks
285:
283:
280:
219:Michelangelo's
213:, featured an
188:
185:
179:
176:
162:
159:
140:Alan G. Hevesi
94:
91:
61:
58:
45:
42:
15:
9:
6:
4:
3:
2:
1059:
1048:
1045:
1043:
1040:
1038:
1035:
1033:
1030:
1028:
1025:
1023:
1020:
1018:
1017:Living people
1015:
1013:
1010:
1008:
1005:
1003:
1000:
998:
995:
993:
990:
989:
987:
978:
975:
973:
970:
969:
961:
960:
955:
954:
943:
939:
933:
926:
922:
917:
910:
905:
898:
893:
891:
889:
881:
876:
874:
857:
853:
852:
847:
841:
833:
829:
822:
814:
810:
803:
787:
783:
776:
774:
765:
759:
751:
747:
740:
738:
729:
727:9781137413574
723:
719:
718:
710:
702:
696:
694:
686:
681:
666:
662:
655:
639:
635:
629:
622:
618:
614:
609:
607:
605:
603:
601:
599:
597:
590:(March 2015).
589:
585:
579:
577:
575:
567:
562:
546:
542:
535:
533:
531:
523:
522:
517:
513:
508:
500:
496:
489:
481:
477:
471:
463:
459:
453:
446:
442:
436:
434:
426:
422:
416:
414:
405:
399:
395:
394:
386:
378:
372:
368:
367:
359:
351:
345:
341:
340:
332:
324:
323:
322:Business Week
316:
300:
299:Biography.com
296:
290:
286:
279:
277:
273:
269:
265:
260:
258:
253:
251:
247:
243:
238:
236:
235:Jimmy Buffett
232:
229:
225:
224:
220:
216:
215:ice sculpture
212:
208:
205:
200:
198:
197:New York City
194:
187:Personal life
184:
175:
172:
168:
158:
156:
155:Thomas Griesa
152:
147:
143:
141:
137:
133:
129:
125:
120:
118:
114:
109:
103:
100:
90:
88:
83:
80:
78:
74:
69:
67:
57:
55:
51:
41:
39:
33:
31:
27:
23:
19:
957:
941:
932:
924:
916:
904:
860:. Retrieved
856:the original
849:
840:
831:
821:
812:
802:
790:. Retrieved
785:
758:
749:
716:
709:
680:
668:. Retrieved
664:
654:
642:. Retrieved
638:the original
628:
620:
616:
587:
561:
549:. Retrieved
544:
519:
507:
488:
479:
470:
461:
452:
444:
424:
392:
385:
365:
358:
338:
331:
321:
315:
303:. Retrieved
298:
289:
261:
254:
239:
221:
201:
193:stock market
190:
181:
164:
148:
144:
121:
104:
96:
84:
81:
70:
63:
47:
40:" doctrine.
34:
21:
20:
18:
992:1946 births
670:December 4,
644:January 21,
619:printed in
588:Vanity Fair
521:Denver Post
228:Stolichnaya
87:Wall Street
986:Categories
942:Daily News
788:. CBS News
786:60 Minutes
480:Forbes.com
462:Forbes.com
282:References
246:Boca Raton
226:urinating
44:Early life
257:Nantucket
171:Manhattan
167:East Side
862:July 29,
792:July 31,
551:July 31,
545:CNNMoney
499:CNNMoney
305:July 31,
211:Sardinia
813:Reuters
750:Reuters
242:Antigua
204:Italian
136:Ja Rule
99:OK sign
724:
400:
373:
346:
207:island
547:. CNN
231:vodka
223:David
75:, to
864:2010
851:Time
794:2012
722:ISBN
672:2013
646:2014
553:2012
398:ISBN
371:ISBN
344:ISBN
307:2012
138:and
518:.
274:in
217:of
209:of
169:of
142:.
126:in
66:CEO
28:of
26:CEO
988::
940:,
923:,
887:^
872:^
848:.
830:.
811:.
784:.
772:^
748:.
736:^
692:^
663:.
615:,
595:^
586:,
573:^
543:.
529:^
514:,
497:.
478:.
460:.
443:,
432:^
423:,
412:^
297:.
866:.
834:.
815:.
796:.
766:.
752:.
730:.
674:.
648:.
555:.
501:.
406:.
379:.
352:.
309:.
Text is available under the Creative Commons Attribution-ShareAlike License. Additional terms may apply.