graphic
graphic  
graphic
News > Companies
graphic
Kozlowski bash rated XXX
Details emerge of lavish birthday bash ex-Tyco CEO threw with company funds.
September 17, 2002: 3:36 PM EDT

NEW YORK (CNN/Money) - Dennis Kozlowski knows how to throw a party.

The ex-Tyco International CEO who was indicted last week for pilfering millions from the company for his personal use, also used Tyco funds to throw a lavish 40th birthday bash for his wife, Karen, on the Italian island of Sardinia, the company said in a filing Tuesday with the Securities and Exchange Commission.

A memo from Beth Pacitti, a Tyco employee, detailed the festivities of the 2001 party held at the Hotel Cala di Volpe Resort in a memo included in Tyco's filing. Cala di Volpe is translated as Fox Cove in English.

"The guests come into the pool area, the band is playing, they are dressed in elegant chic. Big ice sculpture of [Michelangelo's] David, lots of shellfish and caviar at his feet. A waiter is pouring Stoli vodka into [the statue's] back so it comes out [its] penis into a crystal glass," the memo said.

The party also featured a slide show in which an Elvis imitator sings "Happy Birthday" after which "a huge cake is brought out with the waiters in togas singing and holding the cake up for all to see. The [breasts] explode, Elvis kicks it in full throttle," according to the memo.

The party is just one of several items on which Kozlowski allegedly spent company funds. The company said in the filing Tuesday that Kozlowski used $62 million in company funds to buy lavish homes and luxury items.  Top of page


CNN/Money Staff Writer Andrew Stein contributed to this report.




  More on NEWS
JPMorgan dramatically slashes Tesla's stock price forecast
Greece is finally done with its epic bailout binge
Europe is preparing another crackdown on Big Tech
  TODAY'S TOP STORIES
7 things to know before the bell
SoftBank and Toyota want driverless cars to change the world
Aston Martin falls 5% in its London IPO




graphic graphic

Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.

Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.