Court limits ex-Tyco exec's property sales

A federal judge in New Hampshire has limited imprisoned former Tyco CEO Dennis Kozlowski's ability to sell his houses and other property.

U.S. District Judge Barbadoro ruled Friday in a lawsuit against Kozlowski by Tyco and investors. The suit alleges Tyco executives colluded in a giant accounting fraud scheme to misrepresent the value of Tyco and companies it acquired under Kozlowski's leadership.

The judge said Kozlowski cannot sell homes in Florida and Massachusetts without first notifying the company. The order gives Tyco three days to object to any proposed home sale.

Kozlowski is serving prison time for financing a lavish lifestyle by looting millions of dollars from the industrial conglomerate.

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