“Paul Devine, the Apple Inc. manager accused of taking kickbacks in exchange for company secrets, should forfeit all proceeds from his fraud, prosecutors said in a court filing,” Joel Rosenblatt reports for Bloomberg.
“Devine, let out of jail with a $440,000 lien against his mother’s home to help secure bail, must forfeit cash “derived from proceeds” of his fraud and money laundering, the U.S. argued in court documents,” Rosenblatt reports. “Prosecutors are seeking forfeiture of about $950,000 seized from as many as six different accounts, and a Porsche Cayenne, according to the Nov. 10 filing.”
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.”
Read more in the full article here.
Typo in headline should be “cash”
your welcome…
You shouldn’t do that to your mother.
Typo in comment should be “you’re”.
You’re welcome…
MDN word: indeed, as in typo, indeed.
@Bunches of Munches,
How do you know he didn’t buy Miss America’s with all that cash?
The guy is facing 60 years in the crowbar hotel and he’s contesting the loss of almost $1 million he’ll never get to spend?
Must be the work of his lawyers, looking to cover their fees.
And yes, one shouldn’t be allowed to profit off one’s crime naturally.
He should make a run for it, because he’s going to be made example of and given a lengthy sentence. Lot’s of places in the world to hide if you got money, which likely they bagged all his accounts before his arrest, which is standard procedure, so make sure you have running cash, a passport and a backdoor way out of the country to your new safe-haven like Switzerland for instance.
I bet his argument is going to be is “that’s how Asia works” and he would be entirely right.
Apple makes deals with the corrupted Asian market all the time (how do you think Apple got the iPhone in China?), of course Devine made a deal for himself and wasn’t slick enough apparently, got greedy most likely and though he was smarter than everyone else.
http://allaboutstevejobs.com/pics/life/2004-2006/08-dianawalker/lightbox-iframe.html#2
Typo in headline should be “cash”
No, because he sold his mother ripoff aluminum windows.
No, he’s being forced to surrender the ceremonial sash he wears everywhere he goes.
——RM
Mebbe it’s a stash?
Y’aller wellcome.
Nothing funnier than someone trying to correct a typo with yet another typo of their very own. lol
NEWS FLASH: Steve Jobs takes a dump on Paul Devine,
Still Runny!!!
This just in…..
Devine say he’ll be happy to give up the sash….. and keep the money!
If he wanted to keep the sash instead…would that make him a very seriously closeted Windows user??
TR
What if it was supposed to be “stash”?
Although, I must admit that when I read the headline, I pictured a guy in some kind of Roman outfit, complete with a laurel wreath around his head.
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Mebbe he wants to keep his hash
Someone please tell me why you get a longer prison sentence for stealing some money, than for killing another person (in most circumstances)? What a screwed up legal system we have!
@ John –
Actually, usually you get a lot shorter prison sentences for stealing money than killing people, but there are always exceptions. There’s also a big difference in manslaughter vs. murder.
Just think how crazy sentences are for minor drug offenses in some states. It used to be (maybe still is) that if you got caught in Texas with a joint, you could get up to 20 years in jail.
Of course, if you steal enough money, you don’t go to jail. You go to the boardroom as CEO.
How will he open his window?.