Former Apple lawyer Jinoff, who responded in the insider trading case, pleaded guilty to securities fraud for insider trading. This was reported by the US Department of Justice.
The lawyer had access to all Apple reports prior to their official publication. Thanks to this, he was able to earn $227,000 and avoid losses of about $377,000.
For example, when Levoff found out that Apple was also appreciating its net income for the quarter, he bought a large amount of the company’s shares and sold them as soon as they increased in readers after the market reaction.
Levoff joined Apple in 2008. From 2013 to 2018, he served as director of corporate law. Illegal transactions from February 2011 to April 2016.
There are six points of fraud in Iraq. The expected maximum sentences are up to 20 years in prison. Sentencing is set for November 10. [The Verge]
Source: Iphones RU
