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L. Dennis Kozlowski
Former Tyco CEO
Tyco CEO, $600 Million Corporate Looting
Overview
Dennis Kozlowski was CEO of Tyco International who looted the company of hundreds of millions of dollars. He became notorious for his extravagant spending including a $6,000 shower curtain, $2 million Sardinian birthday party (partially company-funded), and lavish apartments. He was convicted of stealing over $400 million and sentenced to 8-25 years.
Key Affiliations
Controversies & Concerns
$600 MILLION LOOTED: Stole from company
$6,000 SHOWER CURTAIN: Symbol of excess
$2M BIRTHDAY PARTY: Sardinia celebration
TAX EVASION: Avoided NY sales tax on art
UNAUTHORIZED BONUSES: Gave himself millions
FORGIVENESS LOANS: $81M in "loans "never repaid
Related Investigations (1)
Criminal Charges & Violations
3 documented violations
NY Penal Law 155.42Grand Larceny(CONVICTED)
15 U.S.C. � 78j(b)Securities Fraud(CONVICTED)
NY Tax LawTax Evasion(CONVICTED)
Known Associates & Connections
Mark Swartz
Tyco CFO, co-defendant
Sources & Documentation
3 documented sources from official records, investigations, and reports
Personal Information
- Born
- November 16, 1946
- Birthplace
- Newark, New Jersey
Education
- •Seton Hall University
Key Timeline
November 16, 1946
Born in Newark
1992
Becomes Tyco CEO
2002
Resigns amid investigation
2005
Convicted after retrial
2005
Sentenced to 8-25 years
2014
Paroled