Apple lawyer ordered to pay SEC $1.15M fine for insider trading
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Date: July 4th, 2024 5:14 AM Author: Orchid rehab hunting ground
Former Apple director of corporate law Gene Levoff has been ordered to pay the U.S. Securities and Exchange Commission $1.15 million for insider trading, reports Reuters. Late last year, Levoff was sentenced to four years of probation and a fine, avoiding a possible two-year jail sentence.
At the time, the fine had not been determined, but the judge presiding over the case handed down a ruling on Tuesday. The judge said that Levoff's violations were "especially egregious" even though he had not been "living excessively."
At Apple, Levoff's role included making sure Apple employees were compliant with the company's insider trading policies, which is why the judge decided that his violation was of particular concern.
Because Levoff was meant to prevent insider trading at Apple, he had access to Apple's earnings results before they were made available to the public. He used the information that he learned to buy Apple shares ahead of better-than-expected results, and to sell shares when there were weaker-than-expected earnings. Levoff's shady stock dealings earned him approximately $277,000, while helping him avoid losses of around $377,000.
In July 2015, for example, Levoff knew Apple would not meet analysts' third quarter estimates for iPhone sales, so he sold $10 million in Apple stock between July 17 and July 21, which is when Apple's earnings information went live. After the announcement, Apple stock dropped more than four precent.
Levoff worked at Apple from 2011 to 2018, but he abused his insider information between 2011 and 2016. Apple fired him in September 2018 after the authorities contacted the company about Levoff's dealings. In June 2022, Levoff pleaded guilty to six counts of securities fraud for insider trading. Federal prosecutors pushed for jail time to deter other corporate executives from insider trading, but the judge did not feel that it was necessary because Levoff was fired and is no longer be able to practice law.
https://www.macrumors.com/2024/07/02/former-apple-lawyer-sec-fine/
(http://www.autoadmit.com/thread.php?thread_id=5550233&forum_id=2/#47808287) |
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Date: July 4th, 2024 5:23 AM Author: Coral floppy idea he suggested
Joseph Levoff was born on July 7, 1930 in Shanghai, China. His father was born in Manchuria while his mother came from Siberia in Russia. Levoff grew up in Shanghai's French Concession and went to the Shanghai Jewish School. In 1949, Levoff and his family left Shanghai for Israel. In Israel, Levoff served in the air force for three years before being honorably discharged. After leaving Israel in 1964, he moved to Los Angeles, and became involved with the restaurant business. Levoff was a member of the American Far Eastern Society, which consisted of former residents of China, like himself. He was president of this group for nearly ten years until he moved back to Israel. The collection contains a number of photographs and photographs albums documenting his family's experiences in Shanghai and Israel, as well as some print materials related to Levoff's life in Shanghai.
BackgroundJoseph Levoff was born on July 7, 1930 in Shanghai, China. His father was born in Manchuria, and his mother came from Siberia, Russia. Levoff grew up in Shanghai's French Concession, and went to the Shanghai Jewish School. He was also part of the Jewish Club and the Foreign YMCA. The latter was where he spent most of his recreactional time socializing and participating in numerous sporting events.
(http://www.autoadmit.com/thread.php?thread_id=5550233&forum_id=2/#47808295) |
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Date: July 4th, 2024 5:29 AM Author: Coral floppy idea he suggested
link dont work but this does:
https://apple.fandom.com/wiki/Gene_Levoff
gorgeous guy, how the furk he go from cal state northridge to standard law jfc jew connections
(http://www.autoadmit.com/thread.php?thread_id=5550233&forum_id=2/#47808299)
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Date: July 4th, 2024 11:55 AM Author: Multi-colored smoky turdskin dilemma
So the guy in charge of preventing insider trading does insider trading. His penalty is probation and a fine of 3% his NW.
So who the fuck do we put in jail for this? Why not execute this asshole and a few others, you might actually discourage this shit.
Prediction: they’ll break the mold and find jail time for roaring kitty.
(http://www.autoadmit.com/thread.php?thread_id=5550233&forum_id=2/#47808893) |
Date: July 4th, 2024 9:54 PM Author: metal useless brakes
This story really doesn’t make sense. He’s the head of insider trading compliance at one of the largest public companies in the world, and yet he did the insider trading through his own, personal brokerage account? Sold $10 million of shares in the two or three days right before the bad earnings release?
That’s like a cop committing a murder and then leaving the murder weapon at the scene, covered with fingerprints, and wrapped up in a photocopy of his driver’s license. So we conclude that this guy wanted to get caught right? Why?
(http://www.autoadmit.com/thread.php?thread_id=5550233&forum_id=2/#47810505) |
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