Apple Manager Stashed $150,000 in Shoeboxes
Authorities this week discovered that the Apple middle manager accused of accepting over $1 million in kickbacks had $150,000 stored in shoeboxes in his house.
Earlier this month, Paul Devine was arrested for accepting kickbacks from Asian accessories manufacturers working with Apple. Devine is said to have used his position at Apple to obtain inside information about upcoming product launches and then sold this information to accessory makers so they could make better contracts with Apple. Mr. Devine's payments were deposited into a number of different accounts, both in the U.S. and abroad.
Authorities this week searched Devine's home and found $150,000 in shoeboxes. Devine was also said to have $20,000 in foreign currency in his possession and prosecutors believe he could have numerous other stashes of cash that they don't know about. Prosecutors also acknowledged the existence of two safety deposit boxes thought to contain yet more proceeds of Devine's jiggery pokery.
Bloomberg cites Judge Howard Lloyd of San Jose, California, in reporting that Devine won’t be released until he posts a bond of $600,000 and signs over funds in his foreign accounts to his lawyers. The government is also said to be demanding to know what's inside the safety deposit boxes before Devine is released.
"We know about some accounts and some statements but not statements for all the accounts we believe are out there," Bloomberg cites Assistant U.S. Attorney Michelle Kane as telling the judge earlier this week. "We’d ask that we be allowed to see what’s in those safe deposit boxes."
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- Paul-Devine ,
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- Accessories
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I like the picture of the apple..
Prepare for a swarm of "Apple sucks" posts.
Apple sucks! And I like the apple pic as well.
apple sucks
This "scandal" is tiny. Apple will swallow it without noticing Hahahaha!
That's one bad apple....
so this amounts to what? Less than 0.1% of the Apple Juice :|
With all that money he could have bought a safe. Shoe box for all that money...
Sucks for him. Ain't a crime until you get caught.
go cry to your mom apple fanboys!
go cry to your mom apple fanboys!
Right...because people in the PC market would never do something like this.
Right...because people in the PC market would never do something like this.
Last time I checked the mac was also a PC? (personal computer)
i want to know how much money the US district attorneys and judges got from apple/stevejobs to tear thru red tape and due process to nail this guy to the floor and in such a hurry as they are. it's almost as if these are classified secret national defense plans. even wikileaks is not being hunted down by the FBI and Justice Department this much.
Prepare for a swarm of "Apple sucks" posts.
Apple sucks.
Apple pie
Right...because people in the PC market would never do something like this.
Nope.
so this amounts to what? Less than 0.1% of the Apple Juice :|
your math seems a little short...
Apple Inc. as of March 25, 2010 is worth more than $207.99 billion
more like .00005%
Greed... its whats for dinner. I only wonder who gets all this stashed money? He didnt steal from Apple just saw an opportunity to make even more money.
Just following the Apple handbook...
im sure lots of other people are guilty of the same crime.
meh.
Apple sauce Bit*h!
Wow...when I read the title I was thinking $150,000 dollars worth of shoeboxes lol
is this the third one so far this month?
its really interesting... someone is making over 600k for calling something a crime that someone took an opportunity of... i also like this quote "he posts a bond of $600,000 and signs over funds in his foreign accounts to his lawyers." must be a nice job to demand money "legally" LOL
I dont understand how some companies and individuals have been doing exact same thing but calling it a business... i guess he failed to put things down in writing... cause we see such things all the time but yet its consulting or some other "fee"
This manager obviously was not very smart. His sound investment strategy is the equivalent of hiding it in the mattress.
Well he just needs to sit tight and don't let anyone on to where he has the rest of his money squirreled away. People are just trying to scare him to hand it all over, ~THEN~ they'll throw him in jail using his own money as evidence against him. Best thing to do is deny you have knowledge of anything, get really good lawyers, preferably new ones and wait it out. Most convictions are gotten with things you accidentally tell investigators.
Should have put a picture of an apple with a worm coming out
bad news.
little worm in the rotten apple..
I bet there's another hidey hole of his.
Greed... its whats for dinner. I only wonder who gets all this stashed money? He didnt steal from Apple just saw an opportunity to make even more money.
I bet for every dollar he made from the suppliers, Apple lost a lot more from paying higher bids for the contracts.