Former Apple attorney Gene Levoff pleaded guilty to insider trading

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According to the Department of Justice (DOJ), Jean Levoff, Apple’s former vice president of corporate law, has pleaded guilty to six counts of insider trading securities fraud. Press release (Via corner,

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The statement said the former Apple attorney “abused material, non-public information about Apple’s financial results and then carried out transactions relating to the company’s stock” from February 2011 to April 2016.

Levoff also served on Apple’s Disclosure Committee from September 2008 to July 2018. In this position, he was held responsible for ensuring that other Apple employees comply with Apple’s insider trading policies, which include the implementation of a “blackout period” at the time of Apple earnings. Report.

Instead, he reportedly made a profit of about $227,000 and avoided a loss of about $377,000. Apple terminated its employment in September 2018. The SEC previously filed a civil suit against Levoff based on the same conduct.

Each of the six counts of securities fraud carries a maximum prison sentence of 20 years and a fine of $5 million. Levoff will be sentenced on November 10.

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