Former Apple Executive Goes to Jail; Must Pay Company $4.4 Million

A former Apple employee is going to jail after a court found him guilty of defrauding his ex-employer of $4.4 million
December 10, 2014 Updated: December 10, 2014
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A former Apple employee is going to jail after a court found him guilty of defrauding his ex-employer of $4.4 million in a complicated scheme involving internal Apple documents.

Paul Devine was Apple’s employee until 2010 when he was fired and arrested on suspicion of illegal activity. Devine, it later turned out, had been stealing sensitive internal data from Apple and sharing it with some of its suppliers who in turn paid Devine impressive sums of money.

According to the Department of Justice report, some of Devine’s payments were even paid “as a percentage of Apple contracts” which is no doubt a number most of us only dream of.

According to officials, Devine would receive reports, product forecasts, pricing targets and even future product specifications which he and his partner would later leak to Apple’s suppliers. These would adjust their pricing and strategies to win Apple contracts therefore benefiting from Devine’s info.

Republished with permission from NeowinRead full article