The former CEO of Tyco International will not get out of prison early despite having "conducted himself properly," according to a letter to a New York parole board.
Dennis Kozlowski and another Tyco executive were convicted in 2005 of fraud and larceny in a case that came to symbolize corporate greed.
The letter obtained by Fox Business Network is from state Supreme Court Justice Michael Obus, who presided over Kozlowski's trial and highlighted factors making him eligible for parole.
Obus said Kozlowski also complied with financial obligations as part of his sentence of eight to 25 years on charges he looted millions of dollars from the global products and services company.
He has served more than six years.
The 65-year-old Kozlowski was denied release earlier this month.