Former Apple manager accused of hiding $125k in shoeboxes

1Paul Devine, the Apple supply manager charged with accepting kickbacks from overseas partners, allegedly had more than $150,000 in cash stashed in shoe boxes in his home when it was raided by federal agents. Moreover, the investigation had found “a significant number of overseas accounts and a significant amount of money”. The judge determined that Devine represents a potential flight risk if he is let out on bail before the foreign funds have been moved into the U.S.

Earlier this month, Devine was arrested and charged with wire fraud, kickbacks and money laundering. Prosecutors have alleged that the Apple global supply manager used his security clearance to provide confidential information to the hardware maker's suppliers. Apple's partners then allegedly used the information to negotiate favorable contracts with Apple, and, the prosecution says, paid kickbacks to Devine. Devine is accused of accepting more than a million dollars from Asian suppliers.

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Written by Svetlana Osipova

Wednesday, August 25, 2010. 15:26

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