X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.
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.

This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.

To view this content, please continue to their sites.

Not a Lexis Advance® Subscriber?
Subscribe Now

Not a Bloomberg Law Subscriber?
Subscribe Now

Why am I seeing this?

LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.

For questions call 1-877-256-2472 or contact us at [email protected]

 

ALM Legal Publication Newsletters

Sign Up Today and Never Miss Another Story.

As part of your digital membership, you can sign up for an unlimited number of a wide range of complimentary newsletters. Visit your My Account page to make your selections. Get the timely legal news and critical analysis you cannot afford to miss. Tailored just for you. In your inbox. Every day.

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.