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The odds are increasing that Mark Belnick will go to trial after all. In August a Manhattan judge upheld the top count of larceny against Belnick, the former GC of Tyco International Ltd. State supreme court justice Michael Obus also rejected Belnick’s motion to dismiss six counts of falsifying business records. Next up: a September 22 hearing at which the judge will work out a schedule for the case, possibly including a trial date. Justice Obus is also expected to rule at that hearing on two counts he skipped in August: a charge that Belnick violated the Martin Act, New York’s securities fraud statute, and an additional count of falsifying business records. The judge has asked prosecutors to present more evidence showing that Belnick acted in concert with former Tyco CEO L. Dennis Kozlowski and CFO Mark Swartz. The Manhattan district attorney’s office first charged Belnick in September 2002, alleging that he falsified business records to conceal $14 million in unauthorized loans to himself. The grand larceny and Martin Act charges were added to the indictment in February 2003. Belnick’s lawyer, Reid Weingarten of Steptoe & Johnson in Washington, D.C., argued that the charges against his client should be dismissed because the payments Belnick received were routine at Tyco. Moreover, Weingarten argued, the preparation of documents for the U.S. Securities and Exchange Commission was the responsibility of Tyco’s financial department, not its legal department.

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