• Manager at Apple arrested for selling trade secrets

    A manager for Apple apparently has been selling secret proprietary information to at least 6 Chinese companies that supply products to Apple. He collected over $1 million from these companies and had the funds deposited into an account in his wife's name.

    Paul Shin Devine was indicted on charges of wire fraud, money laundering and unlawful monetary transactions. Apple also named him in a civil suit that included charges of racketeering.

    From the Wall Street Journal:

    "According to the indictment and the civil suit, Mr. Devine came up with a scheme in which he supplied companies such as Cresyn Co. in South Korea, Kaedar Electronics Co. in China and Jin Li Mould Manufacturing Pte. Ltd. in Singapore with confidential information that would let them negotiate favorable contracts with Apple.

    The indictment and civil suit claim that in return, Mr. Devine demanded payments, which were sent to bank accounts in his wife's name in amounts that were small enough to avoid attention. He shared part of the money with Mr. Ang, who was an employee of Jin Li, and helped broker deals with Jin Li as well as others, according to the indictment and civil suit."

    I guess people will do anything to cash in on Apple's success. I personally would have NOT done something so stupid to jeopardize a successful career at Apple let alone risk getting locked up.

    More at the WSJ
    This article was originally published in forum thread: Manager at Apple arrested for selling trade secrets started by Kruejl View original post
    Comments 6 Comments
    1. Kruejl's Avatar
      Kruejl -
      That's exactly what I was thinking. I sometimes wonder if Apple knows it's going on and looks the other way. Hype and "secrets revealed" seems like it makes consumers want the products that much more.
    1. maXimus's Avatar
      maXimus -
      I wonder how many others are on the brink of arrest?
    1. nsandymary's Avatar
      nsandymary -
      Maybe 20 more??
    1. maXimus's Avatar
      maXimus -
      If Apple wasn't so secretive, this would happen. Their secrecy is the catalyst for this type of behavior.
    1. nsandymary's Avatar
      nsandymary -
      BTW Boss, I got some info!!
    1. overjjrk's Avatar
      overjjrk -
      Remember when "Cloak & Dagger" was about something really imperative!!!