Belnick Acquitted

Thanks to the efforts of the Steptoe & Johnson LLP defense team, Mark Belnick, former general counsel for Tyco International, was acquitted July 15, 2004, of all charges of  stealing millions in unauthorized bonuses and loans and of failing to disclose interest-free loans.

Steptoe’s experienced and well-qualified defense team comprised Reid Weingarten and Mark Hulkower as trial counsel, Brian Heberlig, David Fragale, Bob Ayers, Karla Crawford, Robin Quinn, Elanda Spencer, Megan Gilbride, and Pam Kaiser. 

Key to the 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.”