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Convicted Tyco Embezzler Dennis Kozlowski Granted Parole

Tyler Durden's picture




 

When former Tyco International CEO Dennis Kozlowski was convicted for stealing $150 million in company money in 2005 on 22 criminal counts including grand larceny, conspiracy, securities fraud/sales and falsifying business records to a prison term of 8.33 to 25 years, he became the poster child for corporate greed. Shortly thereafter the entire financial system nearly collapse when everyone on Wall Street became a poster child for corporate greed and nobody went to jail. As such it became a moot point to make anyone a symbol for "corporate greed" since the Department of Justice itself admitted there is a brand new category reserved for the uber-greedy ones, also known as Too Big To Prosecute. Which is why moments ago, news broke that Kozlowski was granted parole after serving 100 months in jail, exactly nobody was surprised.

“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.

Now that Dennis is no longer a threat to the public welfare, we expect him, Enron's Skilling and of course MF Global's Jon Corzine to form KozCorSki Asset Mismanagement and proceed to "manage" everyone else's centrally-redistributed money (get to work Mr. Chairwoman) in the one way that modern society truly deserves.

 

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Tue, 12/03/2013 - 17:44 | 4211586 the not so migh...
the not so mighty maximiza's picture

And he is mad as hell and wants his shower curtains back

Tue, 12/03/2013 - 17:46 | 4211588 cougar_w
cougar_w's picture

Free Jon Corzine!

Tue, 12/03/2013 - 17:50 | 4211605 Winston Churchill
Winston Churchill's picture

What about Bernie Madoff ?

Fairs fair.Oh wait , he stole from the 0.1%.

Big mistake.

Tue, 12/03/2013 - 17:57 | 4211627 negative rates
negative rates's picture

He's a dinosaur, tethered to cord without typing skills. He'll be left behind with nothing.

Tue, 12/03/2013 - 18:05 | 4211651 Four chan
Four chan's picture

holy shit crime does pay.

Tue, 12/03/2013 - 18:16 | 4211694 12ToothAssassin
12ToothAssassin's picture

Just ask Michael Milkin!

Tue, 12/03/2013 - 18:26 | 4211739 NoDebt
NoDebt's picture

He'll have a job at some investment house or "energy management" company within 3 months.

Tue, 12/03/2013 - 18:38 | 4211781 johnQpublic
johnQpublic's picture

RIP June R.

 

 a long time tyco employee who lost everything and died destitute due to this man, of a treatable disease

 

we miss you June.

Tue, 12/03/2013 - 18:49 | 4211803 smlbizman
smlbizman's picture

i am appealing his release...and i want to hold this appeal in tawani court...

Tue, 12/03/2013 - 22:07 | 4212401 rocker
rocker's picture

Not defending him, but aren't the people who sit on 90% of the boards of our top banks and companies just as guillty.

It's called collusion. When you conspire to steal share holder's money to garnish each other with unjustified bonuses and winnings.

I called it winnings because most of them do not earn anything. 

Tue, 12/03/2013 - 17:45 | 4211591 LawsofPhysics
LawsofPhysics's picture

"Greed is good" - Gordon Gekko

Tue, 12/03/2013 - 17:45 | 4211592 Rainman
Rainman's picture

This news calls for a Toga Party ....Toga...Toga !!

Tue, 12/03/2013 - 17:47 | 4211593 Ignatius
Ignatius's picture

I just wanna say that this country is one of the finest kleptocracies in the world.

Go Seahawks.

Tue, 12/03/2013 - 17:47 | 4211594 666
666's picture

Whew! Now I can sleep better knowing the guilty as sin crooks have their "get out of jail free" cards back. For a minute there, I was worried the gubmint was going to crack down and punish pieces of trash like him.

Tue, 12/03/2013 - 17:47 | 4211598 slotmouth
slotmouth's picture

Free KozCorSki Asset Mismanagement!

Tue, 12/03/2013 - 17:49 | 4211602 NOTaREALmerican
NOTaREALmerican's picture

150 million used to be a big amount, right?

Tue, 12/03/2013 - 17:49 | 4211603 Dollar Bill Hiccup
Dollar Bill Hiccup's picture

It's Deer Hunting season.

Seriously.

Tue, 12/03/2013 - 17:49 | 4211604 max2205
max2205's picture

Somebody call batman. ..this is out of control

Tue, 12/03/2013 - 17:52 | 4211606 Ignatius
Ignatius's picture

What will be the sentence when a defrauded investor slips a shiv in TogaMan's guts as he passes on the street?

Tue, 12/03/2013 - 18:10 | 4211673 Clycntct
Clycntct's picture

Many pats on the back from me. I didn't see anything. I'm just patbacking happy.

Tue, 12/03/2013 - 18:17 | 4211697 Ignatius
Ignatius's picture

I'll be like the slug that gets mugged by a turtle.

"I don't know, officer, it all happened so fast."

Tue, 12/03/2013 - 19:04 | 4211855 kchrisc
kchrisc's picture

That would be the very serious crime of denying the guillotine its due.

Tue, 12/03/2013 - 17:51 | 4211611 virgilcaine
virgilcaine's picture

The head and grin of a sociopath.

Tue, 12/03/2013 - 17:52 | 4211613 godzila
godzila's picture

Quite frankly little bit more than 8 years certainly not a walk in the park. I am much more dsisgusted by Corzine not even being indicted

Tue, 12/03/2013 - 17:56 | 4211615 robertocarlos
robertocarlos's picture

His only crime was avoiding another crime. I don't believe he should have done time.

Edit: I thought he was only convicted of not reporting NY city sales tax on the sale or purchase of an expensive painting.

Tue, 12/03/2013 - 17:56 | 4211620 Dollar Bill Hiccup
Dollar Bill Hiccup's picture

Now it's time to free John Corzine!

Senator, Governor, Vampire ...

Stake through his black heart would set him free.

Tue, 12/03/2013 - 20:38 | 4211622 vxpatel
vxpatel's picture

Convicted shoplifters (habitual ones) do more time!

Tue, 12/03/2013 - 17:58 | 4211629 frankTHE COIN
frankTHE COIN's picture

KozCorSki is Parent Corp. to Helicopter Ben & Yellen Associates.

Tue, 12/03/2013 - 18:03 | 4211646 RaceToTheBottom
RaceToTheBottom's picture

I don't think they will merge into one corrupt company.

They achieve a larger corruption footprint by staying separate...

Tue, 12/03/2013 - 18:05 | 4211648 booboo
booboo's picture

Poor bastard missed out on the opportunity of a life time, just think of the too big to jail criminal mischief he could have gotten himself involved in if he wasn't sitting in the clink, this poor man was robbed! 

Tue, 12/03/2013 - 18:04 | 4211649 W74
W74's picture

If he had just been born a jew instead of a Pole he never would've gone to prison at all.

Tue, 12/03/2013 - 18:09 | 4211665 Four chan
Four chan's picture

watch out there is a strong denile factor about the jewish involvement in our slavery and world wide debt problem around here. 

Tue, 12/03/2013 - 22:59 | 4212537 401-Kulak
401-Kulak's picture

Are you saying that Martha Stewart is Polish?

Tue, 12/03/2013 - 18:05 | 4211650 Clowns on Acid
Clowns on Acid's picture

Wait a minute...at least Koz lost his money went to jail. Corzine never did... that is a big difference.

Did Frankiln Raines, Dick Fuld, Mozilla, are any of those bankers go to jail ?    

C'mon Tyler a little feckin' balance here. Koz was a minnow.

Tue, 12/03/2013 - 21:27 | 4212293 starfcker
starfcker's picture

how do you think skillings feels? he invented the concept of private taxation of energy, and he still sits in prison while jpm and occidental work his racket on a massive scale.

Tue, 12/03/2013 - 18:07 | 4211657 A. Magnus
A. Magnus's picture

Didn't someone burn this fat fuck's house down when he was on trial? Too bad they didn't burn it down when he was in it - his whole neighborhood would have smelled like moldy bacon for weeks...

Tue, 12/03/2013 - 18:10 | 4211671 Trample the Wea...
Trample the Weak. Hurdle the Dead.'s picture

http://en.wikipedia.org/wiki/Lincoln_Correctional_Facility   What the fucking fuck, man?---views of the park?

Tue, 12/03/2013 - 18:10 | 4211676 ebworthen
ebworthen's picture

Wall Street needs his talents.

Tue, 12/03/2013 - 18:17 | 4211695 Son of Captain Nemo
Son of Captain Nemo's picture

Can't wait till they spring Bernie Ebbers, Andrew Fastow and Jeff Skilling from the "can".

It will be like an episode of Batman where his worst arch enemies' are all simultaneously sprung from prison and are getting ready to plan the biggest 'event'.

We really are living a real life version of a Marvel comics!

Tue, 12/03/2013 - 19:57 | 4212015 Son of Captain Nemo
Son of Captain Nemo's picture

Eggs-quisite!

Tue, 12/03/2013 - 18:20 | 4211710 tpgaynor
tpgaynor's picture

the look says it all.....he's baaaaaccckkkk!

Tue, 12/03/2013 - 18:22 | 4211725 yogibear
yogibear's picture

He's an ex-con now. Not as smart and connected as the rest of the criminals.

Being caught and convicted, he looks pretty stupid to the rest on Wall Street.

He might serve a useful purpose as a fall-guy again. 

Tue, 12/03/2013 - 18:22 | 4211726 Dr. Venkman
Dr. Venkman's picture

This dude knew how to throw parties.

Tue, 12/03/2013 - 18:27 | 4211737 Seasmoke
Seasmoke's picture

loves this criminals voice......its a classic !

Tue, 12/03/2013 - 18:28 | 4211748 Frank N. Beans
Frank N. Beans's picture

The shower ring lobby is very powerful

Tue, 12/03/2013 - 21:11 | 4212242 Atomizer
Atomizer's picture

Well said. Many don't understand how disgusting these people are. The difference between getting apprehended and getting loose over the soap drop test. Many of them are twisted and sick individual’s.  Nixon even reported this fact.

Tue, 12/03/2013 - 18:32 | 4211762 theeseer
theeseer's picture

Hey I'm the Jew that controls everything and everybody including W74 except those that are smart enough to put aluminum foil over their heads. Madoff is only relaxing in the can and engineered Koz's release to do his bidding, don't you get it? I also made Mt Etna erupt today as a distraction.

Tue, 12/03/2013 - 18:49 | 4211804 Pancho Villa
Pancho Villa's picture

$150 million, 100 months = $1.5million/month.

Crime does pay! Really, really well!

Tue, 12/03/2013 - 19:27 | 4211925 yogibear
yogibear's picture

The smarter ones never go to jail. What a long time to serve.

Tue, 12/03/2013 - 19:26 | 4211916 Downtoolong
Downtoolong's picture

The tipping point was when he asked the warden to become a partner in his new idea for a hedge fund.

Tue, 12/03/2013 - 19:30 | 4211929 Joe_in_Indiana
Joe_in_Indiana's picture

For stealling $150million plus, he gets 8 1/3.  Poor man steals bread for his family gets 20 years.  Justice is served!

Tue, 12/03/2013 - 19:42 | 4211960 Fred123
Fred123's picture

He and others like him need a bullet.

Tue, 12/03/2013 - 19:43 | 4211967 thestarl
thestarl's picture

Anyway no matter how much money this arsehole has stashed away he's still one big fat bald ugly motherfucker 

Tue, 12/03/2013 - 19:44 | 4211968 SmittyinLA
SmittyinLA's picture

Enron is on autopilot in CA, taken over by Al Gore

Tue, 12/03/2013 - 19:54 | 4212003 BigSpruce
BigSpruce's picture

Im sure the Fed  or  The Squid will have a job waiting for him

Tue, 12/03/2013 - 20:05 | 4212036 CEOoftheSOFA
CEOoftheSOFA's picture

Here's what David Stockman said about the Koz:

Between 1992 and 2002 Tyco International did over 1000 major M&A deals worth $70 Billion.  The result was a hodge-podge of cast-off orphans from corporate America.  Tyco sales increased from $7 Billion in 1997 to 34 Billion in 2001, a 50% annual rate of increase. 

 

The real purpose of TYC was for Wall Street to create a vehicle for absorbing powerful waves of Wall Street speculation money which had been unleashed by the Fed.  The hapless Kozlowski didn’t invent TYC, Wall Street did. 

 

 

The explosion in the TYC stock price is additional proof that the Greenspan Bubble was rooted in monetary deformation. Most of TYC were old line businesses with annual growth rates of only 3%.  Despite this, the PE ratio exploded from 17 to 67 in 1999.  Corporate debt soared from $500 Million to $43 Billion.  Goodwill went from $1 Billion to $43 Billion due to chronic overpayment of corporate assets.  Shareholder equity was a negative $20 Billion in 2001.  Kozlowski was the chump whose visage in the pantheon of American businesses greatest CEO’s was removed at a speed rivaling politburo portraits in Stalinist Russia.  After a hurried do-over by the financial press, Koz was re-christened as a rouge CEO who stuck his shareholders with $6,000 shower curtains and a $2 Million party in Sardinia.  TYC was the disheveled trunk of pots & pans from America’s industrial pawn shop led by a crude schemer who couldn’t resist the bait.  $100 Billion in market cap vaporized by June 2002.  That kind of re-pricing does not happen in a free market.      

Tue, 12/03/2013 - 20:45 | 4212170 ToNYC
ToNYC's picture

Now Koz can watch the more clever criminals on the outside.

Tue, 12/03/2013 - 20:55 | 4212202 Atomizer
Atomizer's picture

Does he still keep the artwork that he shipped?

Tue, 12/03/2013 - 23:13 | 4212579 bigrooster
bigrooster's picture

Great News!  Dennis I hope that you die soon bitch!  You raped the average American for your own personal pleasure.  You better leave the country soon fucker!

Tue, 12/03/2013 - 23:21 | 4212598 bigrooster
bigrooster's picture

At some point you have to believe in GOD just because you want motherfuckers like this to BURN in HELL!

Wed, 12/04/2013 - 05:59 | 4213094 merizobeach
merizobeach's picture

Nah, god and government are just convenient ways/excuses for citizens to adbicate their personal responsibility for eradicating trash like this guy from society.

Wed, 12/04/2013 - 02:25 | 4212910 dark pools of soros
dark pools of soros's picture

dont worry.. it all trickles down

Wed, 12/04/2013 - 02:32 | 4212919 AngelEyes00
AngelEyes00's picture

150 million!  I'm sure a regular person stealing 150 from a 7/11 would get a much longer sentence.

Wed, 12/04/2013 - 04:01 | 4213008 pupdog1
pupdog1's picture

Uncle Fester motherfucker.

Did he have to give any of the stolen $150 M back?

Wed, 12/04/2013 - 07:02 | 4213126 22winmag
22winmag's picture

I could be wrong on this, but I don't remember Dennis getting up on stage with O'bomber or donating 7 or 8 figure sums to America-hating organizations.

 

There is a world of difference between grand larceny and treason.

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