“Paul Devine, the Apple Inc. manager accused of taking kickbacks in exchange for company secrets, proposed posting a bond of $612,407 from his foreign bank accounts to win release from jail, according to court documents,” Joel Rosenblatt reports for Bloomberg. “Devine pledged the equity in his home near San Francisco and his mother’s Maryland home as collateral for the bond and has met most conditions for release set by U.S. Magistrate Judge Howard Lloyd in San Jose, California, Devine’s lawyer, Raphael Goldman, said in a letter to the judge today. Lloyd is scheduled to consider the bail request at a hearing tomorrow.”
“Devine, 37, a global-supply manager, was accused of money laundering and wire fraud in a 23-count indictment unsealed Aug. 13. He has pleaded not guilty to charges that he took at least $1 million in kickbacks from Asian suppliers,” Rosenblatt reports. “Devine gave the suppliers of iPhone and iPod accessories confidential data that helped them win better contracts from Cupertino, California-based Apple in exchange for payments, according to the indictment. Each count of wire fraud, wire fraud conspiracy, and money laundering carries a 20-year prison sentence, prosecutors said.”
Rosenblatt reports, “Apple hasn’t provided information on Devine’s employment status since his arrest.”
Read more in the full article, which includes info about hundreds of thousands of dollars currently stuck in Korea, here.
[Thanks to MacDailyNews Reader “Lynn W.” for the heads up.]