In the Federal court of the state of new Jersey yesterday filed lawsuits against gene Levoff (Gene Levoff), now the former General counsel of Apple. The Commission on securities and exchange Commission (SEC) accused the head of the legal Department of Apple (now former) in obtaining illegal profits totaling $600 thousand dollars. The transaction, according to the Supervisory authority periodically occurred from 2011 to 2016.
Jean Levoff had information on quarterly reports and used that data for stock trading and restructuring investment loss. For example, in 2015, Leboff sold Apple shares for $10 million, just before the shares fell by 4%. The Prosecutor of the state of new Jersey also accused the lawyer securities fraud. And was reminded that the punishment for such crime provides for up to $5 million dollar fine and 20 imprisonment. “Levoff violated Apple’s policy against insider trading, which he formed to repeatedly commit the transaction based on material non-public information” — said in a separate press release of the Ministry of justice.
The intrigue lies in the fact that the 45-year-old Jean Levoff, senior lawyer of corporate law, headed the Department of 30 people responsible for insider trading. Lawyer Genie, Levoff, Kevin Marino, said the disagreement of the client with the charges. The hearing is scheduled for February 20 in Federal court in Newark.
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