White-Collar Team Relies on Good Faith for Tyco's Belnick Acquittal

Mark Belnick, former general counsel for Tyco International, was acquitted of all charges of stealing millions in unauthorized bonuses and loans and of failing to disclose interest-free loans. 

The key to success was Mr. Weingarten’s insistence—reiterated by Mr. Belnick himself, on the witness stand—that the loans had been accepted in good faith.  Mr. Belnick’s vindication rests on his testimony that the bonuses were earned and authorized by the head of the company, and that he relied on the advice of the chief financial officer about the loans.  Mr. Weingarten noted that there was “nothing unusual, extraordinary or improper about seeking advice from that source.” 

Tyco International is a Bermuda-based manufacturing conglomerate.