Sunday, March 25, 2007
As Chief Executive Officer of Tyco International, Dennis Kozlowski became famous for spending $6,000 on a shower curtain and throwing a $2 million Roman toga birthday party for his wife. Today, Kozlowski is serving a prison sentence that could last 25 years, convicted of stealing more than $100 million from the company. In an exclusive interview with Morley Safer, Kozlowski speaks for the first time.
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DID YOU KNOW?
- Unlike Enron and WorldCom, Tyco was not forced into bankruptcy and remains a thriving company.
- Kozlowski's first trial ended in a mistrial. But in his second, he was found guilty on 22 of 23 counts of grand larceny and
conspiracy, falsifying business records and violating business law.
- Former CFO Mark Swartz was convicted with Kozlowski and also faces up to 25 years in prison. Both men were ordered to pay fines and
restitution of $239 million.
- Tyco employs some 240,000 workers around the world, focusing on four business segments: electronics, fire & security, healthcare and
engineered products.
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