Former Apple Lawyer Facing Criminal Charges for Insider Trading
Former Apple lawyer Gene Levoff, who was in charge of enforcing Apple's Insider Trading Policy, is facing criminal charges related to insider trading of Apple stock, reports CNBC.
Levoff was today indicted for insider trading, and he is facing six counts of security fraud and six counts of wire fraud. According to the U.S. government, Levoff used inside information from Apple, including financial results before they were published, to sell Apple stock ahead of weaker than expected earnings results between 2011 and 2016 as well as to purchase stock during stronger quarters.
This scheme to defraud Company-1 and its shareholders allowed Levoff to realize profits of approximately $227,000 on certain trades and to avoid losses of approximately $377,000 on others.
When Levoff discovered that Company-1 had posted strong revenue and net profit for a given financial quarter, he purchased large quantities of stock, which he later sold for a profit once the market reacted to the news.
The United States Securities and Exchange Commission first filed charges against Gene Levoff in February, but now he is facing criminal charges in addition to civil charges.
Levoff worked for Apple from 2008 to 2018, and prior to when he was fired from the company, he was the senior director of corporate law.
Apple declined to comment on the criminal charges filed today, but in February, said the following: "After being contacted by authorities last summer we conducted a thorough investigation with the help of outside legal experts, which resulted in termination."
Popular Stories
Apple today shared an ad that shows how the upgraded Center Stage front camera on the latest iPhones improves the process of taking a group selfie.
"Watch how the new front facing camera on iPhone 17 Pro takes group selfies that automatically expand and rotate as more people come into frame," says Apple. While the ad is focused on the iPhone 17 Pro and iPhone 17 Pro Max, the regular iPhone...
In the iOS 26.4 update that's coming this spring, Apple will introduce a new version of Siri that's going to overhaul how we interact with the personal assistant and what it's able to do.
The iOS 26.4 version of Siri won't work like ChatGPT or Claude, but it will rely on large language models (LLMs) and has been updated from the ground up.
Upgraded Architecture
The next-generation...
Apple plans to announce the iPhone 17e on Thursday, February 19, according to Macwelt, the German equivalent of Macworld.
The report, citing industry sources, is available in English on Macworld.
Apple announced the iPhone 16e on Wednesday, February 19 last year, so the iPhone 17e would be unveiled exactly one year later if this rumor is accurate. It is quite uncommon for Apple to unveil...
In select U.S. states, residents can add their driver's license or state ID to the Apple Wallet app on the iPhone and Apple Watch, and then use it to display proof of identity or age at select airports and businesses, and in select apps.
The feature is currently available in 13 U.S. states and Puerto Rico, and it is expected to launch in at least seven more in the future.
To set up the...
New MacBook Pro models with the M5 Pro and M5 Max chips could arrive as soon as Monday, March 2, according to Bloomberg's Mark Gurman.
In today's "Power On" newsletter, Gurman said that the release of new MacBook Pro models is tied to the release of macOS Tahoe 26.3. The launch is said to be slated for as early as the week of March 2. He added that the M4 Pro and M4 Max models on sale today...
