Former employee admits costing Apple $2.4m

Former employee admits costing Apple .4mPaul Devine, the former Apple Employee who was charged last August with no less than 23 offences relating to the sale of confidential information, has admitted costing the company $2,409,000.

Devine leaked sensitive data to suppliers and manufacturers of Apple components in exchange for kickbacks, giving them a huge advantage when it came to price negotiation. The proceeds of the kickbacks were transferred to various bank accounts across the globe, in an attempt to conceal their source and nature.

However, last April, Apple found evidence of the deceit on Paul’s laptop. Four months later he was charged with 15 counts of wire fraud, one count of wire fraud conspiracy, six counts of money laundering, and one count of engaging in transactions with criminally-derived proceeds.

In a plea agreement, Devine pleaded guilty to one count of each, and has now agreed to forfeit $2.28 million in cash and property. Paul’s lawyer says he’s a "good man who made a mistake, and now he's trying to make amends."

Hmm, I’m not sure how that’s any different from, say, robbing a bank and giving the money back when you get caught. Well done, Paul. Top bloke!

Sentencing is scheduled for June 6.

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Bradder  Mar. 1, 2011 at 18:41

Id say its different as in he hasn't actually pointed a gun or threated to kill someone if they dont do what he said so maybe a little over the top when he just probably given documents to someone he shouldn't have.

MrRatPants  Mar. 1, 2011 at 20:51

Not exactly the glamorous image you get of corporate spies from the movies... :)

mmbeak  Mar. 1, 2011 at 22:06

Indeed - more corporates pies than corporate spies....


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