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Topic: Dennis Kozlowski

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	Dennis Kozlowski - Wikipedia, the free encyclopedia
		Leo Dennis Kozlowski (born November 16, 1946 in Newark, New Jersey) is a former CEO of Tyco International, convicted of misappropriating more than $400 million of the company's funds.
		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.
		Kozlowski is notorious for his extravagant lifestyle supported by the booming stock market of the late 1990s and early 2000s; allegedly, he had Tyco pay for his $30 million New York City apartment which included $6,000 shower curtains.
	en.wikipedia.org /wiki/Dennis_Kozlowski (387 words)

	Kozlowksi062305
		Former Tyco International CEO Dennis Kozlowski, who owns a $12 million Squam compound and has donated millions of dollars to island charities, was convicted Friday on 22 of 23 counts of larceny and fraud for allegedly looting the multinational company of more than $600 million during his tenure at the top.
		Kozlowski and Swartz, 44, were accused of stealing $170 million by paying themselves unauthorized bonuses and secretly forgiving loans to themselves, and pocketing $430 million more by inflating the price of Tyco stock by lying to analysts about the health of the company’s finances.
		Kozlowski served as the honorary chairman of the annual Pops concert, honorary chairman of the hospital’s capital campaign and donated millions to the facility between 1997-2000.
	www.ack.net /Kozlowksi062305.html (1244 words)

	Ex-Tyco execs get up to 25 years in prison - Boston.com (Site not responding. Last check: 2007-10-19)
		Former Tyco CEO L. Dennis Kozlowski was sentenced Monday to up to 25 years in prison for looting the company of hundreds of millions of dollars, the climax of a case of executive greed replete with tales of a $6,000 gold-threaded shower curtain and a $2 million Mediterranean birthday party.
		Kozlowski and Swartz were accused of giving themselves as much as $150 million in illegal bonuses and forgiving millions of dollars in loans to themselves, while also manipulating the company's stock price by lying about the state of Tyco's finances.
		Kozlowski, employed by Tyco from 1975 until 2002, and Swartz, who joined Tyco in 1991 and left in 2002, testified that they never stole anything from Tyco or received anything from the company to which they were not entitled.
	www.boston.com /business/articles/2005/09/19/two_ex_tyco_executives_face_sentencing (910 words)

	JS Online: Tyco's titan quits amid probe
		Kozlowski resigned from the board of directors of Pewaukee-based APW Ltd. last year, citing a conflict of interest.
		Kozlowski had served on the board of directors of APW and its predecessor company, Butler-based Applied Power, from 1994 to 2001.
		Kozlowski became chief executive in 1992 and cemented his reputation as a deal-maker by acquiring a new company nearly every business day during the 1990s.
	www.jsonline.com /bym/news/jun02/48393.asp?format=print (883 words)

	L. Dennis Kozlowski, Mark H. Swartz and Mark A. Belnick: Lit. Rel. No. 17722 / September 12, 2002
		L. Dennis Kozlowski, the former chief executive officer and chairman of Tyco's board of directors, and Mark H. Swartz, the former chief financial officer and a director, granted themselves hundreds of millions of dollars in secret low interest and interest-free loans from the company that they used for personal expenses.
		Kozlowski disregarded the purpose of the program by borrowing at least $270 million but using only about $29 million to cover taxes due as a result of the vesting of his restricted shares of the company.
		Kozlowski and Swartz once again directed others to falsify Tyco's books and records to bury this secret compensation by offsetting the cost against an unrelated gain on the sale of common stock of a Tyco subsidiary.
	www.sec.gov /litigation/litreleases/lr17722.htm (1272 words)

	Complaint: SEC v. L. Dennis Kozlowski, Mark H. Swartz, and Mark A. Belnick
		Kozlowski and Swartz knew, or were reckless in not knowing, that they were obligated to disclose their improper KELP loans to investors in Tyco's annual reports on Form 10-K and proxy statements — but they failed to do so.
		Kozlowski and Swartz knew, or were reckless in not knowing, that their related party transactions were not disclosed to investors in Tyco's annual reports filed on Form 10-K and proxy statements filed with the Commission, in violation of the federal securities laws.
		Kozlowski and Swartz knew, or were reckless in not knowing, that their rent-free apartments, personal use of company aircraft and other perquisites were not disclosed to investors as executive compensation in Tyco's annual reports on Form 10-K and proxy statements, as required by the federal securities laws.
	www.sec.gov /litigation/complaints/complr17722.htm (4159 words)

	New York Daily News - News & Views - The great Tyco robbery (Site not responding. Last check: 2007-10-19)
		Kozlowski, former Tyco chief executive Mark Swartz and the company's former chief counsel, Mark Belnick, were marched into a Manhattan courtroom in handcuffs, where they pleaded not guilty.
		Kozlowski was told to surrender his passport and ordered held on $100 million bond.
		Kozlowski allegedly billed Tyco $72,042 for jewelry, $155,067 for clothing, $96,943 for flowers, $60,427 for club memberships, $52,334 for wine and $110,000 for corporate use of his personal yacht.
	www.nydailynews.com /news/story/18669p-17595c.html (657 words)

	2003 Pulitzer Prizes-EXPLANATORY REPORTING, Works
		Kozlowski: One avenue being explored by the Manhattan district attorney is whether the former Tyco chief failed to pay New York state and city income tax on some of his compensation, including the company apartment and forgiven loans.
		Kozlowski says the trainer and doctor were hired as part of a corporate wellness program, and the chef and corporate dining rooms were added to cut costs and improve efficiency, as many executives were ordering in costly meals or leaving the office to eat.
		Kozlowski says he has "no knowledge" of any $25 million loan forgiveness in fiscal 1999, again saying the former CEO assumes subordinates followed his instructions to pay off all his loans at the end of each year with some of his restricted stock or other compensation.
	www.pulitzer.org /year/2003/explanatory-reporting/works/wsj6.html (3974 words)

	bookofjoe: 'Dead Men Don't Wear Plaid' — but one vetted ex–Tyco CEO Dennis Kozlowski's $25 million bonus
		Stephen Kaufman, Kozlowski's defense attorney, yesterday took the risky course of putting the once–mighty, now–humbled former grand panjandrum of Tyco on the stand in Kozlowski's ongoing trial for grand larceny, conspiracy and fraud, with a potential sentence of 25 years — essentially, life — in prison.
		Kozlowski also couldn't explain why a $25 million loan from the company that was forgiven in 1999 hadn't made an appearance on his tax return.
		Dennis Kozlowski, the former Tyco chief executive on trial for fraud and theft, testified yesterday that he told a now-deceased board member about bonuses that prosecutors allege are illegal.
	www.bookofjoe.com /2005/04/dead_men_dont_w.html (782 words)

	KUTV: Former Tyco Execs Sentenced (Site not responding. Last check: 2007-10-19)
		Dennis Kozlowski, the former CEO of Tyco International, was sentenced Monday to eight and one-third years to 25 years in prison Monday for stealing hundreds of millions of dollars from the company.
		Kozlowski, 58, and Swartz, 44, were convicted in June of looting the industrial products and services company of more than $600 million to fund extravagant lifestyles featuring expensive jewelry, an opulent Manhattan apartment and a gaudy Mediterranean birthday party.
		Kozlowski and Swartz were accused of enriching themselves by nearly $600 million by taking unauthorized pay and bonuses, abusing loan programs and selling their company stock at inflated prices after lying about Tyco's finances.
	kutv.com /topstories/topstories_story_262101248.html (366 words)

	Conglomerate Blog: Business, Law, Economics & Society
		In a surprising appearance as a witness in his own defense, Kozlowski testified that in 1999 he used a portion of his $60 million bonus as repayment of the $25 million loan, and merely "forgot" to include the $25 million as compensation on his 1999 taxes.
		Kozlowski's description of that $25 million as part of his regular bonus contradicts earlier testimony, as well as a 2002 regulatory filing.
		In yesterday's cross-examination, Kozlowski was asked for more details about his meeting with Hampton, but he had a pretty vague recollection.
	www.theconglomerate.org /2005/04/dennis_kozlowsk.html (229 words)

	Dennis Kozlowski < Business < Career < People < : news (Site not responding. Last check: 2007-10-19)
		Recently, Dennis Kozlowski, the former CEO of Tyco, was sentenced to up to 25 years in prison for looting the company of $150-million.
		Former Tyco chief executive Dennis Kozlowski was not as lucky.
		Tyco's former CEO L. Dennis Kozlowski and its former finance chief were convicted earlier this year of looting more than $150 million from the company.
	schema-root.org /people/career/business/dennis_kozlowski (497 words)

	[No title] (Site not responding. Last check: 2007-10-19)
		Dennis Kozlowski, accused of looting hundreds of millions of dollars from Tyco International Ltd., was convicted Friday of grand larceny and other charges.
		Kozlowski and Swartz were allowed to remain free on $10 million bail apiece pending an Aug. 2 pre-sentencing hearing.
		Kozlowski became the object of ridicule after it was revealed that the furnishings at his Manhattan apartment included a $6,000 shower curtain and other extravagances that brought the price of the place to more than $30 million.
	www.11alive.com /money/money_article.aspx?storyid=64829 (799 words)

	Document (Site not responding. Last check: 2007-10-19)
		Kozlowski, who resigned in June after 10 years as chief executive, has maintained that his actions were legal.
		Kozlowski also pledged $106 million in charitable donations from 1997 to 2002, of which $43 million were made for his personal benefit.
		Kozlowski told The Wall Street Journal his actions were approved by Director Phil Hampton, who died in April 2001.
	pages.stern.nyu.edu /~mgittelm/bps/tyco.htm (1999 words)

	Dennis The Menace On Trial Today - Forbes.com (Site not responding. Last check: 2007-10-19)
		Dennis Kozlowski, former chairman and chief executive of Tyco International (nyse: TYC - news - people), was a lower-middle-class kid from Newark, N.J., with an unimpressive degree who scraped and worked his way to the very top of corporate America.
		Besides, Kozlowski paid half the cost out of his own pocket, even though it was all for the greater glory of Tyco, his lawyers are expected to argue.
		Kozlowski and Swartz, who have pleaded not guilty, are being prosecuted by local district attorneys with a scant track record of convicting white-collar criminals, not, as is normally the case, by federal prosecutors.
	www.forbes.com /home_europe/2003/09/29/cx_da_0929topnews.html (969 words)

	deseretnews.com \| Witness says Tyco CEO took unauthorized pay
		Kozlowski and Swartz are on trial on larceny and enterprise corruption charges in state Supreme Court in Manhattan.
		Defense lawyers have argued that Kozlowski and Swartz were entitled to the compensation they took, and it had all been properly approved.
		Kozlowski had approved the payment, but the board was not aware of it.
	deseretnews.com /dn/view/0,1249,580036886,00.html (482 words)

	TRACKING THE TYCO FLOCK: Sightings from The Catbird Seat (Site not responding. Last check: 2007-10-19)
		Kozlowski sued Federal, saying the allegedly false statements were filed with the federal Securities and Exchange Commission, and that a clause in the policies barred Federal from attributing the statements to him.
		Kozlowski abruptly quit in June and then was charged with evading sales tax on millions of dollars in art purchases.
		Kozlowski was born in the rundown industrial city of Newark, New Jersey, the son of a police investigator.
	www.the-catbird-seat.net /Tyco.htm (8586 words)

	Boston.com / Business / Tyco defense closings for L. Dennis Kozlowski begin (Site not responding. Last check: 2007-10-19)
		Stephen Kaufman, attorney for former Tyco chief executive officer L. Dennis Kozlowski, said those things were mentioned to confuse jurors and incite prejudice against the defendants.
		Kaufman also said Kozlowski felt "sorrow and contrition" for dalliances with two women who testified that they were involved with the CEO while they worked at Tyco.
		Swartz and Kozlowski are charged with a total between them of 32 counts of grand larceny, falsifying business records and violating state business laws.
	www.boston.com /business/articles/2004/03/15/tyco_defense_closings_for_l_dennis_kozlowski_begin (634 words)

	Columns: Of greed and $6,000 shower curtains
		Now we are told former Tyco International CEO Dennis Kozlowski, who blew tens of millions of Tyco money as if it was his own, spent $6,000 on a floral-patterned shower curtain.
		Kozlowski's profile of corporate pilfering and lavish excess is so extensive, so over the top and so conniving that there's not enough room in this column to tell it all.
		Kozlowski, it was reported, effectively looted Tyco to the tune of $135-million.
	www.sptimes.com /2002/08/09/Columns/Of_greed_and_6_000_sh.shtml (779 words)

	New York Daily News - Business - Koz lied about 20M fee: fund chief (Site not responding. Last check: 2007-10-19)
		Cooperman said Kozlowski assured him the fee was approved by the board and as a result, he said, he bought another 1.3 million shares for $50 million.
		However, he continued, because Kozlowski assured him that the board had approved the fee, he immediately bought an additional 1.3 million shares for $50 million because he thought the price was low and the market had overreacted to The Journal story.
		Kozlowski and Mark Swartz, Tyco's former chief financial officer, are on trial on charges of improperly using $600 million in Tyco funds to enrich themselves and friends.
	www.nydailynews.com /business/story/154611p-135970c.html (381 words)

	Kozlowski Takes Stand in His Larceny Retrial
		NEW YORK, April 27 -- Former Tyco International Ltd. chief executive L. Dennis Kozlowski took the witness stand Wednesday and denied that he ever abused company loan programs or received a bonus to which he was not entitled.
		Testifying in his own defense at his retrial on larceny charges, Kozlowski said his intent was always to increase business, never to commit a crime.
		Kozlowski, 58, was the first defense witness in the trial.
	www.washingtonpost.com /wp-dyn/content/article/2005/04/27/AR2005042702259.html (290 words)

	Ex-Tyco CEO Dennis Kozlowski found guilty - Corporate Scandals - MSNBC.com
		Kozlowski and Tyco’s former CFO Mark Swartz were convicted of looting more than $600 million.
		Kozlowski and former Tyco finance chief Mark H. Swartz joined a string of executives convicted in recent years in high-profile corporate wrongdoing cases, among them former WorldCom CEO Bernard Ebbers and Adelphia Communications Corp. founder John Rigas and his son, Timothy.
		The first trial of Kozlowski and Swartz ended with a judge declaring a mistrial in April 2004 because a juror, identified by a newspaper as a holdout for acquittal, received a menacing telephone call and letter.
	www.msnbc.msn.com /id/8258729 (1016 words)

	L. Dennis Kozlowski News - The New York Times (Site not responding. Last check: 2007-10-19)
		Dennis Kozlowski is lucky that his sentence was not determined by a jury of his peers.
		Dennis Kozlowski' s conviction shows that high pay scales can serve as proof of the defendant' s knowledge of wrongdoing.
		Jurors in the retrial of L. Dennis Kozlowski, the former chairman of Tyco International, and his top lieutenant, hinted yesterday that they might be close to reaching a verdict on some charges but also signaled that there is some dissension on other charges.
	topics.nytimes.com /top/reference/timestopics/people/k/l_dennis_kozlowski (513 words)

	CNN.com - Jurors see Tyco CEO's $2M party - Oct. 29, 2003
		A tape of the $2 million birthday bash former Tyco CEO Dennis Kozlowski threw for his wife on the island of Sardinia three years ago was shown to jurors in Kozlowski's larceny trial Tuesday.
		Kozlowski watched the video, along with a 20-minute display of still photographs, on a small monitor from his seat at the defense table, smiling and nodding his head at several different points.
		Kozlowski and former CFO Swartz each could face up to 30 years in prison.
	www.cnn.com /2003/WORLD/americas/10/29/tyco (567 words)

	L. Dennis Kozlowski Is Not Fabulous - Forbes.com (Site not responding. Last check: 2007-10-19)
		Kozlowski, the former chief executive of Tyco (nyse: TYC - news - people), and Mark Swartz, its former chief financial officer, are on trial in Manhattan's State Supreme Court, charged with grand larceny and enterprise corruption for allegedly stealing some $600 million from Tyco.
		They also suggested that Kozlowski was something of a sport since he made his racing yacht, the Endeavor, and its crew available to revelers at absolutely no cost to Tyco.
		Meanwhile, the basic fact--that Kozlowski threw a lavish bash for Karen, who he'd quietly married a few months earlier, and that Kozlowski paid just half the bill--was obvious and beaten half to death.
	www.forbes.com /home/2003/10/29/cx_da_1029topnews.html (1175 words)

	Jurors watch tape of Dennis Kozlowski's party on Sardinia - Oct. 29, 2003
		NEW YORK (CNN) - A tape of the $2 million birthday bash former Tyco CEO Dennis Kozlowski threw for his wife on the island of Sardinia three years ago was shown to jurors in Kozlowski's larceny trial Tuesday.
		Jurors saw the 30-minute video of the 40th birthday party for Kozlowski's wife as part of a case that accuses him and former Tyco finance chief Mark Swartz of looting the company out of $600 million.
		Take a peek at the $2.1 million birthday party that former Tyco CEO Dennis Kozlowski threw in Sardinia for his wife's 40th birthday.
	money.cnn.com /2003/10/28/news/companies/tyco_party (577 words)

	Judge declares mistrial in Tyco corruption case - Apr. 2, 2004
		It is at least the second time this week that the judge met with the juror, who became the subject of intense media coverage after she appeared to flash an "ok" sign to the defense table last Friday.
		Kozlowski and Swartz had been accused of bilking Tyco (TYC: Research, Estimates) of $600 million in one of the most closely watched of the recent corporate fraud cases.
		Though it appeared the jury was headed for at least a partial guilty verdict, both Stephen Kaufman, a lawyer for Kozlowski, and Stillman said after court that they were disappointed the case didn't come to a conclusion.
	money.cnn.com /2004/04/02/news/midcaps/tyco_outcome (806 words)

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