As news of the conviction and sentencing of hedge-fund manager Raj Rajaratnam settles down, it’s a good time to take a look back at the last “Bond Villain” to make the financial perp walk—former Tyco CEO Dennis Kozlowski.
In an interview with The Wall Street Journal published Friday, Kozlowski takes issue with what he sees as extravagant bonuses given to executives from companies that received federal bailouts.
“That’s indefensible,” he told the Journal.
The paper notes Kozlowski ”pulled in a pay package worth more than $105 million in fiscal 2000 and was found guilty in 2005 of looting his employer. He was sentenced to as much as 25 years, but he’s now suing New York state to win work release while awaiting his first parole hearing in April.”