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To: cavan who wrote (10482)	2/3/2003 3:08:15 PM
From: wallstreeter	Respond to of 48461

ENV just got filled 10k at a average of 20.5 cents super low float 18 cents in cash 84 cent book value will move if there a war. They are in the environmental cleaning and oil cleaning business. wall

To: cavan who wrote (10482)	2/3/2003 3:30:10 PM
From: Bucky Katt	Respond to of 48461

Ex-Tyco Gen. Counsel Accused of Larceny BOSTON (Reuters) - Former Tyco International Ltd. (NYSE:TYC - News) general counsel Mark Belnick was charged on Monday with stealing $12 million from the conglomerate by accepting a special bonus the board of directors had not approved. The indictment adds three new charges against Belnick, who served as Tyco's top legal counsel until last year. He faces up to 25 years in prison if convicted of the new felony larceny charge, which stems from a bonus he allegedly received in the form of $2 million cash and 200,000 Tyco shares. In New York, Manhattan District Attorney Robert Morgenthau unveiled the superseding indictment against Belnick. It was the latest revelation in an investigation that helped drive down shares of Bermuda-based Tyco more than 70 percent last year. Belnick also is accused of failing to disclose a $2.5 million related-party transaction that resulted in a payment to a Tyco director. Morgenthau identified Lord Michael Ashcroft, who resigned from Tyco's board last year, as the director who received the payment. Belnick's lawyer, Reid Weingarten, said the director transaction happened a year before Belnick arrived at Tyco. The indictment includes the original six counts brought against Belnick last year. He has pleaded innocent to those charges, which accuse him of falsifying documents to conceal $14 million in loans to himself from Tyco. Belnick's lawyers have said that Tyco's outside auditor and compensation committee knew about the loans. In fact, Belnick told the auditors he owed more than what they calculated, according to court papers filed in the case. But on Monday, Belnick was led into the New York state supreme court in handcuffs. His lawyer called the latest charges frivolous. "These charges are frivolous and should be dismissed," Belnick's lawyer, Weingarten, said in a statement. "The district attorney's new charges are equally frivolous." Weingarten said Belnick received the bonus for "exemplary performance." A former Iran-Contra investigator, Belnick joined Tyco in 1998 and came highly regarded after a 26-year career at the powerhouse law firm Paul, Weiss, Rifkind, Wharton & Garrison. He got the job after former U.S. Senator Warren Rudman recommended him to then-Tyco Chairman Dennis Kozlowski. But last year, Belnick got tangled up in the same investigation by Morgenthau's office that accused Kozlowski and ex-Tyco finance chief Mark Swartz of stealing $600 million from Tyco through unauthorized compensation and fraudulent stock sales. Besides the special bonus, prosecutors claim Belnick also obtained $25 million by selling Tyco stock. In addition, the indictment charges Belnick and others with scheming to obtain favorable proxy cards from Tyco shareholders that had the effect of keeping them in control of the company. Tyco, a Bermuda-based conglomerate whose offices are in Exeter, New Hampshire, makes products ranging from fire alarms to diapers. At the end of last year, Tyco said an investigation by its new management uncovered $382 million in accounting mistakes, which it blamed on aggressive accounting by its former management team