If you’re looking for the poster boy of corporate greed, look no further than L. Dennis Kozlowski, the former CEO of Tyco who took excess to a whole new level. He’s the subject of this week’s episode of Entrepreneur’s new podcast, Dirty Money, which you can listen to above or on any podcast platform.
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In 2005, Kozlowski was arrested and served six and a half years in prison for looting nearly $100 million from his company. Records revealed that he secretly loaned tens of millions of dollars of corporate funds to executives and forgave those loans to win their loyalty. (What a swell guy.)
On top of all that, without board approval, he doled out millions in bonuses and used company money to buy himself a $16.8 million apartment in New York City. He repeatedly dipped into Tyco’s til to cover his personal $80,000 American Express bill and luxury oddities, including a $17,100 traveling toilet box, a $15,000 dog umbrella stand, and a $6,000 shower curtain.
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On this episode of Dirty Money, hosts Jon Small and Dan Bova speak with Catherine S. Neal, Associate Professor of Business Ethics and Business Law at Northern Kentucky University and author of Taking Down the Lion: The Triumphant Rise and Tragic Fall of Tyco’s Dennis Kozlowski to get to the bottom of his greed (if there is a bottom.)
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