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Gene Levoff, a former Apple lawyer, was sentenced to 4 years probation and fined $604,000 for insider trading

2024-04-25 Update From: SLTechnology News&Howtos shulou NAV: SLTechnology News&Howtos > IT Information >

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Shulou(Shulou.com)12/24 Report--

CTOnews.com Dec. 8-Former Apple chief lawyer Gene Levoff was sentenced to four years probation and a $604,000 fine for six counts of securities fraud, including insider trading, with no jail time, Bloomberg reported.

CTOnews.com previously reported that Lviv, 49, of San Carlos, California, pleaded guilty last June.

Prosecutors allege that Lviv allegedly used his position as Apple's corporate secretary, head of corporate legal affairs and co-chair of a committee that reviews draft Apple earnings reports to conduct more than $14 million in transactions between 2011 and 2016, earning $604,000 (CTOnews.com notes: currently about 4.331 million yuan) in illegal gains.

Each count carries a maximum penalty of 20 years in prison and a $5 million fine under the law, and prosecutors hope to send him to jail to deter other corporate executives from committing similar crimes.

However, the judge overseeing the case did not think it was necessary, because Levov lost his job and could no longer engage in legal work.

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