Apple exec stashed $150,000 in shoe boxes; must allow authorities to inspect safety deposit boxes

Apple Online Store“Federal agents found more than US$150,000 in cash when they searched the house of Apple manager Paul Devine earlier this month, prosecutors said in court Monday,” Robert McMillan reports for IDG News Service. “‘He had over $150,000 stored in shoe boxes,’ Department of Justice Attorney Michelle Kane said, as she argued with a defense lawyer over the possible terms of Devine’s release.”

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“Devine was charged two weeks ago with taking kickbacks from Apple suppliers. Prosecutors say that Devine shared confidential information on Apple products such as the iPod and iPhone in exchange for cash kickbacks. He allegedly provided suppliers with projected sales figures, data on how much it cost Apple to produce the products, and pricing bids from supply chain competitors,” McMillan reports. “Devine pleaded not guilty to the charges last week. He is also facing a civil suit from Apple.”

McMillan reports, “It may take some time for Devine to meet all the conditions of his release… Devine must allow authorities to inspect two safety deposit boxes he holds… Devine and his wife must also surrender passports to the court, the judge said.”

Red more in the full article here.

31 Comments

  1. Lol, a hundred and fifty grand in a shoe box? Somebody did not pay his income tax, it would seem. Boy, is he going down. That’s tax evasion, baby. Better watch some Wesley Snipes movies, he’s going to be your cell mate.

  2. Of course he put it in shoe boxes, dummies! Can’t you imagine how lumpy the mattress gets with that kind of money stuffed under it?? ” width=”19″ height=”19″ alt=”grin” style=”border:0;” />

  3. If the allegations are true, this was very foolish behavior by this guy. He had a job with one of the most successful companies in the world, which is still ascendant in many exciting areas. Why jeopardize that for a few hundred grand? Jeez, some people don’t know how to weigh cost vs. benefit.

  4. People need to cease being such blind fanboys here. This is a very nice looking and well spec’d device, and I hope it performs well. Why? Because competition keeps Apple and others honest, in that they must continue to innovate or be left behind. And I say this as I type on my iPad 64GB. I absolutely love this device, but a camera, especially front facing, and a USB port would make it nearly perfect. Hopefully releases like the Tab will push Apple to add features to their products. Results? WE win!

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