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Apple’s ex-corporate law chief pleads guilty to years of insider trades

Thursday June 30, 2022. 10:37 PM , from Mac Daily News
The corporate lawyer who was once responsible for enforcing Apple’s insider trading policy pleaded guilty, ironically, to illegally trading for years on confidential revenue and earnings filings.
Apple Park in Cupertino, California
yChris Dolmetsch and Bob Van Voris or Bloomberg News:

Gene Levoff, Apple’s former director of corporate law, on Thursday admitted he regularly traded on inside information between 2011 and 2016. Levoff, 48, of San Carlos, California, pleaded guilty to six counts of securities fraud in a videoconference before US District Judge William J. Martini in Newark, New Jersey.
The Stanford Law School graduate, who joined Apple in 2008, is scheduled to be sentenced on Nov. 10. The securities fraud counts to which Levoff pleaded guilty each carry a maximum sentence of 20 years in prison, though he is unlikely to get that much time.
“Gene Levoff betrayed the trust of one of the world’s largest tech companies for his own financial gain,” New Jersey US Attorney Vikas Khanna said in a statement. “Despite being responsible for enforcing Apple’s own ban on insider trading, Levoff used his position of trust to commit insider trading in order to line his own pockets.”
Levoff on several occasions made trades within quarterly blackout periods, even after telling others employees that they were prohibited from trading in Apple stock, according to prosecutors.

MacDailyNews Take: As we wrote in October 2019, “If found guilty, prosecute him to the fullest extent of the law – and not in some Club Fed white-collar, minimum-security resort, either.”
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The post Apple’s ex-corporate law chief pleads guilty to years of insider trades appeared first on MacDailyNews.
https://macdailynews.com/2022/06/30/apples-ex-corporate-law-chief-pleads-guilty-to-years-of-insider-...
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