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Former Apple director accused of insider trading

On Behalf of | May 12, 2020 | White Collar Crimes

In Oklahoma and across the US, white-collar crimes often are committed by high-level management personnel. Recently, the former senior director of corporate law at Apple was charged with insider trading and is asking that these charges be dismissed based on their constitutional merits.

In October 2019, the accused was indicted for insider stock trading by the U.S. Attorney’s Office for the District of New Jersey. The man is accused of making trades based on early access to Apple’s earnings and revenue disclosure, which is information that he would have been one of only a few people to be able to access.

The man’s attorney states that the charges by the U.S. Attorney’s Office are unconstitutional because they are not prohibited by any criminal laws. It is not clear if the defense for this white-collar crime will succeed because the Supreme Court dealt with a similar insider trading case in 2016 and did not find any issues with the constitutionality of the process.

The former Apple director is specifically accused of using information for generating unjust enrichment with stock trades that created $227,000 in profit while avoiding $377,000 in potential losses. The U.S. Attorney’s Office has charged the man with six counts each of wire fraud and security fraud. Each of these charges carries a penalty of up to 20 years in prison with additional fines.

When faced with charges similar to those above, it is important to have the right white-collar crimes attorney on your side. Many times, white-collar crimes are committed by people who are not usually involved in criminal activity. These folks may believe they were just borrowing money to get by or following their bosses’ orders. An attorney can also help with charges related to embezzlement, identity theft, racketeering, and a number of other areas.


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