• Former Tyco Chairman Dennis Kozlowski (L) arrives at State Supreme Court in New York June 2, 2005. A judge on May 31, 2005 delayed jury deliberations in the trial of two top former Tyco executives accused of dipping into company coffers and looting $150 million from the conglomerate over four years. Kozlowski, 58, and Mark Swartz, 44, former finance chief at the company, are on trial in N.Y. State Supreme Court on charges of grand larceny, securities fraud, falsifying business records, conspiracy and other crimes stemming from the huge bonuses and other compensation they received from Tyco. REUTERS/Shannon Stapleton REUTERS   SS - RTRD71P

    Former Tyco Chairman Dennis Kozlowski (L) arrives at State Supreme Court in New York June 2, 2005. A judge on May 31, 2005 delayed jury deliberations in the trial of two top former Tyco executives accused of dipping into company coffers and looting $... 150 million from the conglomerate over four years. Kozlowski, 58, and Mark Swartz, 44, former finance chief at the company, are on trial in N.Y. State Supreme Court on charges of grand larceny, securities fraud, falsifying business records, conspiracy and other crimes stemming from the huge bonuses and other compensation they received from Tyco. REUTERS/Shannon Stapleton REUTERS SS - RTRD71P (Reuters)

  • MANUFACTURING TYCOON KOZLOWSKI

Disgraced Ex-Tyco CEO Kozlowski Wins Parole

By Business Leaders FOXBusiness

Former Tyco International (TYC) CEO Dennis Kozlowski was granted parole on Tuesday after serving 100 months in prison for stealing some $150 million from the conglomerate’s coffers.

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Kozlowski, 67, had been serving a prison term of 8-1/3 to 25 years after being convicted of 22 criminal counts, including grand larceny, conspiracy, fraud/sales securities and falsifying business records.

At the time of his 2005 conviction, the disgraced former Tyco CEO was a poster child for corporate greed in America.

“Mr. Kozlowski is grateful to the parole board for its decision to grant him parole,” Alan Lewis, Kozlowski’s attorney at Carter Ledyard & Milburn, said in an email to FOX Business.

The New York State Board of Parole said it announced the decision to Kozlowski on Tuesday and his tentative release date is January 17, 2014.

Kozlowski had been denied parole in April 2012 on the grounds that he remained a threat to “public safety and welfare.” The former Tyco CEO filed suit after that denial.

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