Friday, June 23, 2006

Kozlowski - Money to Pay Fines

Dennis Kozlowski, the former CEO of Tyco who was found guilty in state court (NY)  was given a fine and restitution of 167 million. (see here)  Unlike others convicted of white collar crimes, like Bernard Ebbers, he and co-defendant Mark Swartz were ordered to immediately begin serving their time. (see here) The Wall Street Jrl reports here that Kozlowski is trying to sell his Nantucket Estate to raise money to pay this fine.  He has it listed for 23 million, having paid 5 million for it in 1997.   If he gets this amount one could say that this was a good investment.

(esp)

http://lawprofessors.typepad.com/whitecollarcrime_blog/2006/06/kozlowski_money.html

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