NEW YORK (AP) — Former Tyco International Ltd. CEO L. Dennis Kozlowski has lost a bid to get out of the New York prison where he's serving time for taking millions of dollars in unauthorized bonuses.
The state Parole Board said in a decision Thursday that his release now "would not be compatible with the welfare of society at large." The board said his conviction represented a "glaring violation of trust" in a CEO of the public security-systems company.
Defense lawyer Alan Lewis says the former executive is "deeply disappointed." Prosecutors opposed parole but had no further comment.
Kozlowski was convicted in 2005. He was sentenced to 8 1/3 to 25 years in prison.
He has maintained the trial was flawed. The state's highest court, the Court of Appeals, has upheld the conviction.