Apple employee charged with receiving over $1 million in kickbacks from suppliers
According to the Wall Street Journal an Apple employee has been arrested and charged with selling secrets to Asian suppliers in exchange for over $1 million in kickbacks.
Paul Shin Devine, who is one of Apple’s global supply managers, was charged “with offenses that include wire fraud, money laundering and unlawful monetary transactions,” which began in 2006.
Devine was charged in a federal grand jury indictment.
Says the Journal: “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.”
The indictment also names Andrew Ang, who worked for one of Apple’s suppliers, and who is charged with wire fraud and conspiracy. Devine shared the kickback money with Ang, who brokered the deals between Jin Li and Apple.
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