Paul Shin Devine pleads to 23 counts
The former Apple manager caught taking kickbacks — some of which was stored in the form of cash in shoeboxes in his home — from suppliers of iPod and iPhone accessories in Korea, China, Taiwan and Singapore has changed his plea to guilty. As part of a deal with prosecutors, he will forfeit more than $2 million in assets, including a Porsche Cayenne SUV
MacNN writes that the sad and sordid tale of Paul Shin Device, a former global supply manager that worked with Asian manufacturers, is now pleading guilty to 23 counts of wire fraud, conspiracy and money laundering. His crimes came to light after an internal Apple investigation revealed he was taking kickbacks and other “incentives” from Asian companies to reveal confidential company and product information.
The most damning evidence in the case came in the form of Excel spreadsheets he kept detailing his activities, including the money received for specific pieces of information. Further, the fool actually used his Apple.com email address to perpetrate many of his crimes.
As part of the plea with the U.S. Attorney’s Office in San Francisco, he will give up $2.28 million in cash and other assets, including the aforementioned Porsche. Each of the counts also carries prison terms of up to 20 years.
Leverage
And, yes, his wife also participated in his deals, though the news of the plea doesn’t mention her. I imagine the feds used the possibility of punishment for her to squeeze Devine into pleading guilty.
Assuming he gets time and in a relatively comfy white collar crime lockup, prison won’t be kind to him given his age and rather expansive girth. If you can’t do the time, don’t do the…
What’s your take?
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