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Ilya St
in
Legal
October 25 10:05

Former Apple employee accused of insider trading

U.S. authorities have accused former Apple lawyer Jean Levoff of insider trading. He allegedly used corporate information to trade the company's shares, CNBC reports
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Levoff worked for Apple from 2008, between 2013 to 2018 he was the head of the corporate law department. Among other things, he was responsible for stopping the company's employees from engaging in insider trading.

According to the indictment, Levoff was involved in illegal transactions from 2011 to 2016. For example, when Apple showed good financial results for the quarter, lawyer bought the company's shares. As soon as the news appeared on the market, he was selling shares with a profit for himself. According to law enforcement, Levoff managed to earn a total of $227,000 and avoid losses of $377,000.
In February 2019, the US Securities and Exchange Commission (SEC) brought charges against Levoff. Apple refused to comment.