Former Tyco General Counsel settles with SEC

The Securities and Exchange Commission announced Tuesday it had reached a settlement with Mark A. Belnick, the former general counsel of Tyco International Ltd., over claims he received around $14 million in unauthorized and undisclosed relocation loans from the company.

Belnick agreed to pay a $100,000 civil penalty, without admitting or denying the allegations. He was also barred for five years from serving as a director or officer of a public company.

The New York Law Journal has an article here (via law.com).

Belnick remains a defendant in the private securities fraud litigation, where the motions to dismiss were largely denied in October 2004. That opinion is available here.

Meanwhile, in his spare time, Belnick has opened his own law practice, specializing in:

Commercial Litigation; Securities Litigation; White Collar Criminal Litigation; International Litigation; Antitrust and Trade Regulation; Government Litigation; Internal Corporate Investigations; Government Investigations; Intellectual Property Litigation; Arbitration; International Arbitration.

Belnick has received an "AV" rating in Martindale-Hubbell Peer Review Rating, which:

shows that a lawyer has reached the height of professional excellence. He or she has usually practiced law for many years, and is recognized for the highest levels of skill and integrity.