Tuesday, March 1, 2011

Ex-Apple Manager Pleads Guilty to Fraud, Conspiracy, Money Laundering

Paul Devine, a former global supply manager at Apple, has pleaded guilty to wire fraud, conspiracy, and money laundering after being accused of taking kickbacks from Asian suppliers.

Reuters reports that Devine passed confidential information to suppliers to help them negotiate favorable contracts with Apple.

Devine pleaded guilty on Monday to wire fraud, conspiracy and money laundering in a San Jose federal court, the U.S. Attorney's office announced. He also agreed to forfeit about $2.28 million in money and property.

"Mr. Devine is a good man who made a mistake, and now he's trying to make amends," his attorney Raphael Goldman said on Monday.

Devine faces a maximum prison term of 20 years. Sentencing is scheduled for June 6.

*thanks iclarified*

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