• Science
  • Technology
  • World
  • National
  • Politics
  • Military
  • Police
  • Viral
  • Entertainment
  • Business
  • Health
  • Opinion
  • Weather
Newsgru
  • World
  • National
  • Politics
  • Military
  • Police
  • Viral
  • Entertainment
  • Facebook

  • Twitter

  • RSS

Business

Former Apple lawyer indicted for “insider trading”

Former Apple lawyer indicted for “insider trading”
John Joseph
February 14, 2019

US prosecutors have indicted an ex top Apple lawyer with insider trading.

The lawyer named Gene Levoff is accused of using confidential information to trade the firm’s securities for personal gain.


Gene Levoff

Atty. Levoff, who was responsible for ensuring compliance with Apple’s insider trading policies, is also charged of breaching those policies on several occasions.

In 2018, Apple fired him after being contacted by authorities and conducting an internal investigation.

The US Securities Exchange Commission (SEC) said the former Apple lawyer engaged in insider trading various times between 2011 and 2016.

“Levoff’s alleged exploitation of his access to Apple’s financial information was particularly egregious given his responsibility for implementing the company’s insider trading compliance policy,” Antonia Chion, associate director of the SEC’s division of enforcement, said in a statement.

“The SEC is committed to pursuing insiders who breach their duties to investors,” the statement added.

In 2011 and 2012, Apple’s former head of corporate law made $245,000 (£193,801) in profits by engaging in insider trading, the SEC said.

The charges carry a maximum sentence of 20 years in prison and a fine of up to $5m.

Related ItemsAppleFeaturedGene LevoffSEC
Click to add a comment

Leave a Reply

Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Business
February 14, 2019
John Joseph

Related ItemsAppleFeaturedGene LevoffSEC

More in Business

JP Morgan launches US bank-backed cryptocurrency

John JosephFebruary 15, 2019
Read More

Amazon pulls out plan to build NYC headquarters

John JosephFebruary 15, 2019
Read More

Airbus to stop A380 production

John JosephFebruary 14, 2019
Read More

Flights cancelled for a day in Belgium due to strike

John JosephFebruary 13, 2019
Read More

Hangzhou hotel opens up hot pot-style hot spring for hungry guests

ShaneyhaFebruary 1, 2019
Read More

Facebook commissioned teens to mine device data, says report

John JosephJanuary 31, 2019
Read More

Tyson Foods pulled out 36,000 pounds chicken nuggets

John JosephJanuary 31, 2019
Read More

Microsoft’s Azure revenue recorded slow growth, shares fall

John JosephJanuary 31, 2019
Read More

US lawmakers to introduce bill limiting Trump’s tariff powers

John JosephJanuary 31, 2019
Read More
Scroll for more
Tap

Copyright © 2015 Newsgru.

Flights cancelled for a day in Belgium due to strike
Airbus to stop A380 production
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.OkPrivacy policy