Dennis Kozlowski, 58, was convicted of defrauding Tyco out of $150 million. From 1997-2001 he was paid $400 million in compensation and benefits. He spent $17 million to buy and restore the 130' J Class sloop Endeavour (http://www.jclassyachts.com/endeavour.html), commissioned in 1934 to compete in the America's Cup. The $1 million Roman bacchanalia on Sardinia, paid for out of corporate funds to celebrate his wife's birthday, included vodka being dispensed from the penis of an ice replica of Michaelangelo's David. Kozlowski is also accused of buying $12 million worth of museum quality art, including a Renoir and a Monet, and defrauding New York State out of sales tax. Dennis Kozlowski faces 30 years in prison.
Ken Lay, with a Ph.D. in economics and a former professor at George Washington University, now age 63, presided over the Enron debacle in which investors lost $66 billion, while 20,000 employees lost their jobs and were financially wiped out. Collateral damage was the crash and burn of the Arthur Andersen accounting firm, sending 25,000 employees into the streets. Lay, who is accused of improper manipulation of stock--including the sale of 500,000 shares by his wife just days before the company went bankrupt--was reportedly once worth $400 million. In the go-go years, Enron had seven corporate jets valued at more than $100 million on which Lay's family traveled at company expense, with $125,000 once spent to bring his daughter back from Europe. Lay faces a maximum of 175 years in prison.
John Rigas, 80, and his family borrowed around $2.3 billion from banks and guaranteed the loans with stock of Adelphia Communications, the cable-TV company he founded. He and his family are accused of using the company as their "personal piggy bank." Included in the SEC complaint:
Since at least 1998, Adelphia used fraudulent misrepresentations and omissions of material fact to conceal rampant self-dealing by the Rigas Family. For example, Defendants forced the public company to pay for vacation properties and New York City apartments used personally by the Rigas Family, develop a golf course on land mostly owned by the Rigas Family, and issue over $772 million of Adelphia shares of common stock and over $563 million of Adelphia notes for the benefit of the Rigas Family.