Dennis Kozlowski

dkandx.jpgSure, it’s all fun and games when you’re married to a guy who appreciates the fact that sometimes you just need a $6,000 shower curtain to compliment your $30 million penthouse, and who hires crackpot (or genius?) party planners to throw you a birthday bash replete with ice sculptures of the David urinating Stoli. But you’ve got to kind of have it in the back of your head that divorcing that same man might not be as pleasant. If she didn’t, Dennis Kozlowski’s former wife, Karen, is getting a crash course in what disentangling yourself from a dick is like. (Hint: not as fun it sounds). The ex-Tyco CEO, who’s currently serving an eight and one-third year sentence for misappropriating in excess of $400 million of the company’s funds, “has refused to produce even one document which may reflect his present wherewithal.” There are, of course, a host of reasons why Big K might not want to reveal his financial information, including a desire to “make it difficult for shareholders who he has victimized to track down those assets down,” according to Jay Eisenhofer, an attorney in a pending shareholder securities class-action suit against Kozlowski and Tyco. The other is a fear of Inmate #483, who’ll likely demand more than just 2 cigs and some spooning next time Denny-boy needs some protection.
KOZ WON’T COUGH UP $ PAPERS [NYPost]

Kozlowski Finally Sells Ski Spot

kozlowskimask.jpgCome on. You know you’re hoping the “unidentifed Texas oilman” is the ghost of Ken Lay.

Disgraced corporate tycoon Dennis Kozlowski sold his opulent Colorado mountain mansion for $10 million – and got an extra $750,000 for the furnishings, court papers revealed yesterday.
An unidentified Texas oilman agreed to plunk down the giant chunk of cash for the ex-Tyco mogul’s 8,627-square-foot palace, complete with a heated driveway, three wine cellars, two hot tubs and a stuffed mountain lion.
“At 10 million, it’s a decent house, although some people I talked to thought it wasn’t worth more than eight,” said David Nilges, a real estate broker not involved in the sale. “The view is to die for.”
But Kozlowski, who is serving 8-1/3 to 25 years in prison for looting up to $1 billion from Tyco, won’t be pocketing a dime from the big deal.
Kozlowski will use the proceeds to chip away at the $59 million in outstanding restitution he still needs to make. He has already turned over more than $100 million.

Ex-Tyco looter sells mansion in snowy Colo. for cool $10M [New York Daily News]

Dennis Kozlowski’s Wife Files For Divorce

dennisandkaren.jpgPoor Karen Kozlowski. Her husband Dennis Kozlowski, the ex-chief of Tyco International, survived all the way through sentencing following his conviction for looting Tyco. No Ken Lay Asset Preservation Plan for her. Instead, she’s opted for the second-best method—she’s divorcing her jailed husband.
Kozlowski has been selling assets in order to pay the $167 million in court-ordered fines. By divorcing Dennis, Karen may be able to save some of the couple’s assets, even if they were purchased with money borrowed, looted or otherwise coming from Tyco. And, in fact, her divorce papers stake a claim to the waterfront mansion the couple bought with Tyco dollars in 2001.
You cannot really blame Karen for wanting to keep living off of Tyco money. She’s the one whose birthday on Sardinia famously cost $1 million dollars. And Tyco—and it’s shareholders—paid for it.

Former Tyco CEO’s wife files for divorce
[Palm Beach post via WSF]