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Former Tyco International CEO Dennis Kozlowski free on $10 million dollar bail
NYP2002092701 - NEW YORK, Sept. 27 (UPI) -- Former Tyco International CEO Dennis Kozlowski leaves Manhattan Supreme Court on Sept. 27, 2002, after a bail hearing which allowed him to remain free on $10 million dollar bail posted by his ex-wife. Kozlowski is charged with stealing $600 million dollars from Tyco International which he headed from 1992 until June 2003. rlw/ep/Ezio Petersen UPI
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Dennis Leo Kozlowski (born November 16, 1946, Newark, New Jersey) is a former CEO of Tyco International, convicted of misappropriating more than $400 million of the company's funds to support a lavish lifestyle and chronic substance abuse issues. He is currently serving at least eight years and four months in prison.

Kozlowski joined Tyco in 1975, becoming CEO in 1992. With Kozlowski at the helm, Tyco massively expanded during the late 1990s. The company consistently beat Wall Street'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.

Kozlowski has been tried twice. The first attempt was a mistrial as one of the jurors - who sided with Kozlowski - later claimed that she was threatened by a member of the public. 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.

This article is licensed under the GNU Free Documentation License.
It uses material from the Wikipedia article "Dennis Kozlowski."
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