Richard Johnson

Richard Johnson

Celebrity News

Disgraced former CEO’s dreams drown in for-sale yacht

There’s a 147-foot hull bobbing in Mamaroneck harbor in Westchester that’s a sad reminder of the rise and fall of Dennis Kozlowski.

Kozlowski, the disgraced former CEO of Tyco International, commissioned the sailing yacht from Derecktor Shipyards before he was convicted in 2005 of taking $81 million in unauthorized bonuses.

The hull is for sale for just under $1 million. “We would love to finish the boat for someone,” a Derecktor spokesman said.

But it will take several million more to make it shipshape.

Locals have been curious about the abandoned hull. Former NBC News publicist Bill McAndrew, a Rye resident, told me, “It’s more of a puzzlement than an eyesore. It just sits there. If they can’t sell it, it would make a great planter.”

Kozlowski served more than six years in state prison before his release in January. A poster child for corporate greed, he once spent $6,000 for a shower curtain. At one over-the-top party he hosted, an ice sculpture of a chubby boy peed vodka.

And in 2006, he was forced to sell off a 130-foot yacht, The Endeavour — which was built to compete in 1934’s America’s Cup — for $13.1 million, to help pay court-ordered restitution.