Former Tyco CEO Kozlowski denied parole

[Eugene]

Source: USA Today

Former Tyco CEO Kozlowski denied parole

By Kevin McCoy, USA TODAY
Updated 2h ago

NEW YORK – Imprisoned former Tyco CEO L. Dennis Kozlowski lost his first parole bid Thursday as a state board ruled that releasing him now would tend to minimize his corporate crimes and affect public safety.

The decision means the 65-year-old former executive will remain a prison inmate, his status since a 2005 conviction and 8⅓-to-25-year sentence on charges of looting nearly $600 million in bonuses and other payments from the global products and services firm he once headed.

The case, which resulted in similar charges and conviction of former Tyco CFO Mark Swartz, came to symbolize corporate greed during the bull market of the 1990s.

"This panel concludes that discretionary release is not presently warranted due to concern for the public safety and welfare," the three-member board concluded in a decision presented to Kozlowski one day after a formal parole hearing.

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Read more: http://www.usatoday.com/money/companies/management/story/2012-04-05/dennis-kozlowski-loses-parole-bid/54065098/1

[russspeakeasy]

1. I think another 15 years would be about right. At age 80 he may be out of

his "greed" stage.

[Ruby the Liberal]

2. How would his release 'affect public safety'?

Is that just an automatic explanation?

I don't want him out either - that just sounds strange.

[Arctic Dave]

3. Good! Rot in there, fucker!

Thieving bastard.

[midnight]

4. This guy loots millions and his in jail, but the banksters look trillions and their not?

[Agony]

5. parole would "not be compatible with the welfare of society at large"

"and would tend to deprecate the seriousness" of his offenses.

a small bit of justice