Former Apple Manager Devine should forfeit cash, U.S. says

“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.

17 Comments

  1. 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.

  2. 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

  3. 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. ” width=”19″ height=”19″ alt=”grin” style=”border:0;” />

  4. 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!

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