Prosecutors for the U.S. government have argued that Paul Devine, the Apple global supply manager charged in a massive kickback scheme, should forfeit all of the more than $1 million he is believed to have received in exchange for company secrets.
According to Bloomberg, prosecutors are seeking the forfeiture of about $950,000 investigators have seized from as many as six different bank accounts, though they are still tracing funds. They are also looking to obtain a Porsche Cayenne -- a vehicle that starts at nearly $50,000.
Devine was granted bail in September, when he posted a $440,000 lien against his mother's home. He also paid more than $600,000 from overseas bank accounts owned by him and his wife.
Assistant U.S. Attorney Michelle Kane told U.S. District Judge James Ware that the government needs more time to analyze computers seized from Devine. Tracking the money has been difficult, but investigators have accused Devine of accepting more than $1 million in kickbacks.
Devine, who worked for Apple since 2005, is also facing a civil suit from his employer. The company also alleges that he received more than $1 million in bribes and payments for his assistance to overseas suppliers.
The 37-year-old manager has ben charged with wire fraud, kickbacks and money laundering. In all, he faces 23 counts, to which he has pleaded not guilty.
Prosecutors said that each count of wire fraud, wire-fraud conspiracy and money laundering carries a 20-year prison sentence. They have alleged that Devine used his security clearance to sell confidential information to overseas suppliers, and the companies then allegedly used that knowledge to negotiate favorable contracts with Apple.
Information retrieved from: http://www.appleinsider.com
(C) 2010 Sam Oliver
No comments:
Post a Comment