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In reality, it's clear that not everything is so simple; there's also "lying for good" and so on. Therefore, it's important to consider what you're comparing. The same act of betrayal can be viewed in a certain abstract, global context. For example, if a person betrays a friend but saves people in the process (by turning in a friend and saving hostages), then they are indeed doing good. But if you consider it in relation to the friend, they are simply betraying them.
Personally, I lean more towards Locken's position: if you've become attached to easy money and decided to commit crimes, you should defend your position to the end, rather than betraying a friend by choosing "the lesser evil" (a standard excuse). Betrayal is just further evidence of cowardice and a lack of the ability to stand up for your ideals and principles (because it turns out we are betraying them too).