Ex-Apple executive jailed and fined for selling secrets

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A former Apple executive who made millions by selling information about the firm to its suppliers has been sentenced to a year in jail.

Paul Shin Devine must also repay almost $4.5m (£2.8m) of the money he made.

Manufacturers paid Devine to find out about Apple products and practices to help them negotiate better deals.

Devine was sentenced in California more than three years after pleading guilty to charges relating to wire fraud, money laundering and conspiracy.

Devine was Apple’s global supply manager from 2005 to 2010 when he was arrested for running the scheme.

According to information published by the Department of Justice, Devine’s kickback scheme began in 2007 after which he agreed to pass on product forecasts, pricing targets and product specifications to manufacturers in return for cash. Some of the payments were tied to the size of the deal the supplier or manufacturer managed to sign with Apple.

Devine set up a shell company called CPK Engineering to launder the cash he received from suppliers.

Investigations into his behaviour started after emails were found in which he agreed to hand over inside information in return for payment.

Reports the BBC

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