{"id":7512,"date":"2019-02-14T03:46:33","date_gmt":"2019-02-14T03:46:33","guid":{"rendered":"http:\/\/www.styledeals.co.uk\/blog\/former-apple-lawyer-charged-with-insider-trading\/"},"modified":"2019-02-14T03:46:33","modified_gmt":"2019-02-14T03:46:33","slug":"former-apple-lawyer-charged-with-insider-trading","status":"publish","type":"post","link":"https:\/\/www.styledeals.co.uk\/blog\/former-apple-lawyer-charged-with-insider-trading\/","title":{"rendered":"Former Apple lawyer charged with insider trading"},"content":{"rendered":"\n<div property=\"articleBody\">\n<figure class=\"media-landscape no-caption full-width lead\"><span class=\"image-and-copyright-container\"><\/p>\n<p>                <img loading=\"lazy\" decoding=\"async\" class=\"js-image-replace\" alt=\"Apple logo is seen on a mobile phone.\" src=\"https:\/\/ichef.bbci.co.uk\/news\/320\/cpsprodpb\/AAC2\/production\/_105641734_gettyimages-1091190390.jpg\" width=\"976\" height=\"549\"\/><span class=\"off-screen\">Image copyright<\/span><br \/>\n                 <span class=\"story-image-copyright\">Getty Images<\/span><\/p>\n<p>            <\/span><\/p>\n<\/figure>\n<p class=\"story-body__introduction\">US prosecutors have charged a former top Apple lawyer with insider trading.<\/p>\n<p>Gene Levoff is accused of using confidential information to trade the firm&#8217;s securities for personal gain.<\/p>\n<p>Mr Levoff, who was responsible for ensuring compliance with Apple&#8217;s insider trading policies, is accused of breaching those policies on several occasions.<\/p>\n<p>Apple fired him last year after being contacted by authorities and conducting an internal investigation. <\/p>\n<p>The US Securities Exchange Commission (SEC) said <a href=\"https:\/\/www.sec.gov\/litigation\/complaints\/2019\/comp-pr2019-10.pdf\" class=\"story-body__link-external\">Mr Levoff engaged in insider trading<\/a> various times between 2011 and 2016.<\/p>\n<p>&#8220;Levoff&#8217;s alleged exploitation of his access to Apple&#8217;s financial information was particularly egregious given his responsibility for implementing the company&#8217;s insider trading compliance policy,&#8221; Antonia Chion, associate director of the SEC&#8217;s division of enforcement, said in a statement. <\/p>\n<p>&#8220;The SEC is committed to pursuing insiders who breach their duties to investors.&#8221;  <\/p>\n<p>In 2011 and 2012, Apple&#8217;s former head of corporate law made $245,000 (\u00a3193,801) in profits by engaging in insider trading, <a href=\"https:\/\/www.sec.gov\/litigation\/complaints\/2019\/comp-pr2019-10.pdf\" class=\"story-body__link-external\">the SEC said.<\/a><\/p>\n<p>Mr Levoff also traded Apple securities ahead of three quarterly earnings announcements in 2015 and 2016, making approximately $382,000 in combined profits and losses avoided.<\/p>\n<p>The charges carry a maximum sentence of 20 years in prison and a fine of up to $5m.<\/p>\n<\/p><\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/www.bbc.co.uk\/news\/business-47234789\">Source<\/a> by <a href=\"\">[author_name]<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Image copyright Getty Images US prosecutors have charged a former top Apple lawyer with insider trading. Gene Levoff is accused of using confidential information to trade the firm&#8217;s securities for personal gain. Mr Levoff, who was responsible for ensuring compliance with Apple&#8217;s insider trading policies, is accused of breaching those policies on several occasions. Apple &hellip; <\/p>\n","protected":false},"author":0,"featured_media":7513,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-7512","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general"],"_links":{"self":[{"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/posts\/7512","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/comments?post=7512"}],"version-history":[{"count":0,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/posts\/7512\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/media\/7513"}],"wp:attachment":[{"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/media?parent=7512"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/categories?post=7512"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/tags?post=7512"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}