“Pegatron Corp., the parent company of Kaedar Electronics Co., said Wednesday it had suspended a manager who has been accused of paying kickbacks to an Apple Inc. employee, and it is now investigating whether the manager violated the company’s code of conduct,” Ting-i Tsai reports for The Wall Street Journal.
“Paul Shin Devine, a global supply manager at Apple, was charged in a federal grand-jury indictment in the U.S. on Friday for allegedly receiving at least $1 million in kickbacks from six suppliers in Asia, including Kaedar, in return for confidential information that would help them negotiate favorable contracts with the Cupertino, Calif. company,” Tsai reports. “Mr. Devine pleaded not guilty Monday in federal court in San Jose, Calif.”
Tsai reports, “On Monday, Pegatron acknowledged that Kaedar paid a brokerage commission to an intermediate trading company for its business with Apple between 2005 and 2008. But it said it wasn’t sure if the arrested Apple employee is behind the intermediate trading company.
Read more in the full article here.
[Attribution: AppleInsider. Thanks to MacDailyNews Reader “Lava_Head_UK” for the heads up.]
Peggy Bundy + Megatron = Pegatron?
Today?
“..and it is now investigating whether the manager violated the company’s code of conduct.”
Pegatron (opening the company’s code of conduct policy book): “Nope–don’t see it in here. I guess it’s okay. Back to work, Norgiyami. Good job..”
“Hey dude, what’s this $1,000,000 line-item on your expense account?
“Hookers.”
“Cool.”
So, this manager spent over $100k, ($1M in bribes between 6 OEMs) and the company didn’t know?
@ Anonymous :
He said it was for buying Married with Children episodes on iTunes!.
MW: human, as in “To err is human”
@NCIceman
Imagine how much that action would be worth in a few years from now
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Oops forget to mention ACTION FIGURE