Former Apple Lawyer Gene Levoff Pleads Guilty to Insider Trading

Former Apple vice president of corporate law Gene Levoff has pleaded guilty to six counts of securities fraud for insider trading, according to a Department of Justice (DOJ) press release (via The Verge).

apple store logo 1
The former Apple lawyer "misappropriated material, nonpublic information about Apple's financial results and then executed trades involving the company's stock" from February 2011 to April 2016, says the release.

Levoff also served on Apple's Disclosure Committee from September 2008 to July 2018. In this position, he was supposed to be responsible for ensuring that other Apple employees were compliant with Apple's insider trading policies, including enforcement of "blackout periods" around the time of Apple's earnings reports.

Instead, he allegedly secured profits for himself worth approximately $227,000 and avoided losses of around $377,000. Apple terminated his employment in September 2018. The SEC previously filed a civil complaint against Levoff based on the same conduct.

The six securities fraud counts each carry a maximum penalty of 20 years in prison and a $5 million fine. Levoff's sentencing is scheduled for November 10.

Popular Stories

Generic iOS 19 Feature Mock Light

iOS 19 Rumored to Be Compatible With These iPhones

Sunday December 22, 2024 8:09 am PST by
iOS 19 will not drop support for any iPhone models, according to French website iPhoneSoft.fr. The report cites a source within Apple. The report said that iOS 19 will be compatible with any iPhone that is capable of running iOS 18, which would mean the following models: iPhone 16 iPhone 16 Plus iPhone 16 Pro iPhone 16 Pro Max iPhone 15 iPhone 15 Plus iPhone 15 Pro ...
m3 macbook air blue

Apple Accidentally Leaked the Next MacBook Air

Sunday December 22, 2024 8:33 am PST by
Apple earlier this month released macOS 15.2, and in doing so it accidentally confirmed new MacBook Air models coming next year. Apple accidentally released macOS 15.2 restore files for unreleased "‌MacBook Air‌ (13-inch, M4, 2025)" and "‌MacBook Air‌ (15-inch, M4, 2025)" models. While it no surprise that the 13-inch and 15-inch MacBook Air models were going to be updated with the M4 ...
iPhone 17 Slim Feature Single Camera 2 Redux

Top 5 Apple Products to Look Forward to in 2025

Friday December 20, 2024 2:22 pm PST by
It's looking like 2025 is going to be an important year for Apple, with the company planning to revamp the iPhone, push further into smart home products, and improve Apple Intelligence. There are tons of new products rumored for 2025, including new iPhones, M4 Macs, a smart home command center, and much more. We've highlighted the top five Apple products that will have the biggest impact in...
Generic iOS 18 Feature Real Mock

iOS 18.2.1 Update Coming Soon for iPhone

Saturday December 21, 2024 4:45 pm PST by
Apple appears to be internally testing iOS 18.2.1 for the iPhone, based on evidence of the software update in our website's analytic logs this week. The logs have accurately revealed many iOS versions before they were released. iOS 18.2.1 should be a minor update that fixes bugs and/or addresses security vulnerabilities, but it is unclear which specific issues might be resolved. The update...
Google Nest Hub 2

New 'HomePod' With 7-Inch Display, A18 Chip, and More Reportedly Launching Next Year

Saturday December 21, 2024 2:03 pm PST by
Apple plans to release a new "HomePod" with a 7-inch LCD display, an A18 chip, and Apple Intelligence support in 2025, according to DigiTimes. Google's Nest Hub It is unclear how much the screen-equipped HomePod would cost, but Apple is seemingly aiming for a reasonable price. In a paywalled report this week, the supply chain publication said Apple has selected China-based manufacturer Tianma ...
iPhone 16 Apple Store

iPhone Sizes Change Next Year: What to Know

Monday December 23, 2024 7:40 am PST by
This year, Apple tweaked iPhone 16 Pro screen sizes to make them bigger than 2023's iPhone 15 Pro models, and next year we are also expecting a change in the size of the displays in the iPhone 17 lineup. Here's what we know. Standard iPhone 17 Apple could introduce a new display size for the standard iPhone 17 model in 2025. The iPhone 17 could measure in at 6.3 inches, up from 6.1 inches,...
iphone 16 pro design cameras

iPhone 18 Pro Rumored to Be More Like DSLR Camera With This Upgrade

Monday December 23, 2024 6:24 am PST by
While the iPhone 18 Pro and iPhone 18 Pro Max are still nearly two years away from launching, a new feature has already been rumored for the devices. In a blog post today, Apple supply chain analyst Ming-Chi Kuo reiterated that the main rear camera on both iPhone 18 Pro models will offer variable aperture, which would be a first for the iPhone. The main camera refers to the 48-megapixel...
apple tv 4k yellow bg feature

New Apple TV Rumored to Launch Next Year With These Features

Tuesday December 17, 2024 9:02 am PST by
The current Apple TV 4K was released more than two years ago, so the streaming device is becoming due for a hardware upgrade soon. Fortunately, it was recently rumored that a new Apple TV will launch at some point next year. Below, we recap rumors about the next-generation Apple TV. Bloomberg's Mark Gurman last week reported that Apple has been working on its own combined Wi-Fi and...

Top Rated Comments

WiiDSmoker Avatar
33 months ago

He was probably being paid extremely well so I really don’t understand his thinking or reason for doing this. Just stupid and reckless.
Never under estimate human greed.
Score: 18 Votes (Like | Disagree)
seanmills1020 Avatar
33 months ago
Levoff surrendered to authorities soon after an iWitness™ came forward.
Score: 18 Votes (Like | Disagree)
ProfessionalFan Avatar
33 months ago
He was probably being paid extremely well so I really don’t understand his thinking or reason for doing this. Just stupid and reckless.
Score: 15 Votes (Like | Disagree)
iAFC Avatar
33 months ago
Crimes against the economy like this also represent a threat to the foundations of a free market democracy, and should be punished accordingly.
Score: 9 Votes (Like | Disagree)
erikkfi Avatar
33 months ago
Even on his way out of the courtroom he was mumbling something about how his actions helped make the App Store a safe and trusted place for users to download the apps they love.
Score: 6 Votes (Like | Disagree)
Kabeyun Avatar
33 months ago
“Apple will set a new quarterly profit record.”
Shoot, I could’ve pulled it off without insider information.
Score: 4 Votes (Like | Disagree)