WASHINGTON (dpa-AFX) - Leonard Dennis Kozlowski, the former chief executive Officer of Tyco International Ltd. (TYC) who was convicted of financial crimes and sentenced to up to 25-years in prison, has been approved for a work release program in New York State, the Wall Street Journal reported citing prison authorities. The Journal noted that Kozlowski won his fifth Offer for work release on Tuesday. He had previously sued the New York State Department of Corrections and Community Supervision after four denials. The program would see him released from Mid-State Correctional Facility and into a minimum security facility. Peter Cutler, a spokesman for the department of corrections, reportedly said Kozlowski's approval was 'based strictly on his application' and wasn't related to the lawsuit. Kozlowski was convicted in 2005 of crimes related to his receipt of $81 million in purportedly unauthorized bonuses, the purchase of art for $14.725 million and the payment by Tyco of a $20 million investment banking fee to Frank Walsh, a former Tyco director. He was sentenced to 8.33 years to 25 years. Kozlowski became eligible for the work release program in 2010, two years before his earliest release date of August 15, 2012, the Journal quoted Cutler as saying. According to state law, non-violent inmates only become eligible within 24-months of their first opportunity for release and must meet requirements that include good behavior in prison. The report quoted Cutler as stating that 'the details of Kozlowski's release are still being worked out and that his minimum security destination wouldn't be publicly released for security purposes.'
Copyright RTT News/dpa-AFX