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HEARING ON FRAUD ENDS, BUT NO RESULTS TILL JULY

SHARE HEARING ON FRAUD ENDS, BUT NO RESULTS TILL JULY

The 10-day preliminary hearing for C. Dean Larsen, a real estate developer charged with 47 counts of felony fraud, concluded Wednesday afternoon, but Larsen won't find out if he goes to trial until July.

At the conclusion of the hearing, Larsen's attorney, Larry Keller, made a motion that all charges against Larsen be dismissed. Keller asked to file a brief supporting the motion.Keller's motion is a customary one in such cases, said Michael Hines, assistant chief of investigations for the Utah attorney general's office. Keller could not be reached for comment.

Third Circuit Judge Robin W. Reese took the motion under advisement. He gave Keller until June 19 to file his brief. The attorney general's office has until June 26 to file a response to Keller's brief.

On July 6 at 2 p.m., Reese will hear Keller's arguments to dismiss all charges. Then he will hear arguments from attorneys with the Utah attorney general's office to bind Lar-sen over for trial on all 47 counts.

Larsen is the former president of Granada, a real estate development company that went bankrupt in February 1987. Thousands of Utah investors - mostly people in the medical and dental professions - lost $47 million in Granada, according to rec-ords in U.S. Bankruptcy Court.

Larsen has been charged with theft, securities fraud, the sale of unregistered securities and unlawful dealing with property by a fiduciary.

The hearing was complex. The state called 40 witnesses to support their charges, including several doctors who said Larsen did not give them their share of the proceeds from the sale of some of the properties they invested in.

Keller called five witnesses, including one of the state's.

Both sides called accountants who gave different explanations for Granada's financial transactions.

The defense and prosecution filed more than 200 exhibits. "Some of the exhibits are very voluminous," Hines said. "One of them was more than a ream and a half of paper."