Ex-Apple Lawyer Levoff Charged
The former top corporate lawyer at Apple has been charged by the US Department of Justice with criminal insider trading ahead of six of the iPhone maker’s quarterly earnings announcements.
Authorities said that Gene Levoff, 45, had exploited his positions as corporate secretary, head of corporate law and co-chairman of a committee that reviewed draft copies of Apple’s financial results, to trade illegally between 2011 and 2016.
Prosecutors said Levoff had generated $604,000 in illegal gains before Apple terminated his decade-long employment in September.
Levoff faces one count of securities fraud, carrying a maximum 20-year prison term and a $5 million fine.