Imprisoned CEO Sells Classic Sailing Yacht

by Deidre Woollard (RSS feed)
Sep 8th 2006 at 8:02AM

It's a sad day for disgraced and imprisoned former Tyco CEO, L. Dennis Kozlowski, he has finally found a buyer for his 130-foot sailing yacht, the S.Y. Endeavour. Kozlowski, who has become one of the faces of corporate greed at it's most profound has been trying to sell of most of his expensive gains for a while now including his antiques and his Nantucket home. According to Bloomberg, Sempervirens Ltd.will pay $13.1 million for the British-built yacht, a bit of a discount from the $17 million original asking price but much-needed funds for Kozlowski who has to pay a whopping $167 million in court- ordered restitution and fines. The classic vessel is a beautiful old sailing sloop and was a familiar sight in yachting circles. She has recently been up for charter for $65,000 per week (she sleeps eight guests with a crew of eight or nine).

Filed under: Yachts & Sailing

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