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.

Top Rated Comments

WiiDSmoker Avatar
13 weeks 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
13 weeks ago
Levoff surrendered to authorities soon after an iWitness™ came forward.
Score: 18 Votes (Like | Disagree)
ProfessionalFan Avatar
13 weeks 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
13 weeks 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
13 weeks 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
13 weeks ago
“Apple will set a new quarterly profit record.”
Shoot, I could’ve pulled it off without insider information.
Score: 4 Votes (Like | Disagree)

Related Stories

Apple car wheel icon feature blue

Former Apple Engineer Pleads Guilty to Stealing Apple Car Secrets

Monday August 22, 2022 6:53 pm PDT by
Former Apple employee Xiaolang Zhang today pleaded guilty to theft of trade secrets, which could get him up to ten years in prison, reports CNBC. Zhang was first hired by Apple in December 2015 to work on Project Titan, developing software and hardware for autonomous vehicles. As part of the Compute Team, Zhang designed and tested circuit boards to analyze sensor data, and he was given...
apple cfo luca maestri

Apple's Financial Chief Luca Maestri Sells Apple Shares Worth Over $16 Million

Friday August 19, 2022 4:44 pm PDT by
Apple's chief financial officer Luca Maestri sold 96,735 shares of Apple stock valued at around $16.9 million in two transactions completed on Wednesday, according to a filing with the U.S. Securities and Exchange Commission (SEC) released today. The transactions were made pursuant to a predetermined trading plan adopted by Maestri in November 2021 and modified in February 2022, in...
new m1 chip

Apple Sues SoC Startup Rivos for Poaching Employees and Stealing Trade Secrets

Monday May 2, 2022 11:16 am PDT by
Apple has levied a lawsuit against RISC-V startup Rivos, a company that has hired several former high-ranking engineers from Apple. Rivos describes itself as a "startup in stealth mode," and according to Apple, Rivos not only poached Apple employees, but also stole chip trade secrets. As noted by Reuters, the lawsuit that was filed last Friday accuses Rivos of hiring more than 40 former...
apple mac ipad watch trade in

Apple Launches Limited-Time Bonus Trade-In Credit for iPhone, iPad, Mac, and Apple Watch in Many Countries

Wednesday May 11, 2022 5:14 am PDT by
Apple has launched a special limited-time offer for iPhone, Apple Watch, Mac, and iPad trade-in that offers customers additional credit when trading in their only device for a new one. The offer is being run in several countries including the US, UK, Germany, Spain, Italy, South Korea, Japan, Taiwan, China, India, and France. In the UK, Apple is offering up to £50 of extra trade-in credit...
iphone trade in store

Apple Cuts Trade-In Value of iPhone, Mac, Apple Watch, and iPad Models

Tuesday July 5, 2022 5:32 am PDT by
Apple has once again adjusted the maximum trade-in values of iPhone, iPad, Apple Watch, and Mac models, lowering the amount customers can receive when trading in their existing devices for one of the company's newer products. The old and updated iPhone trade-in values can be found below. iPhone 12 Pro Max: Up to $600, down from $650 iPhone 12 Pro: Up to $500, down from $550 iPhone...
automatic security updates ios 16

Apple Will Let You Remove Rapid Security Response Updates in iOS 16

Monday September 12, 2022 1:50 pm PDT by
Apple in iOS 16 added a new Rapid Security Response feature that's meant to make it quicker and easier for the company to deploy security improvements to iPhone users without a full iOS update. By default, Rapid Security Responses are installed automatically, but Apple has implemented a way to remove them. In an updated support document shared today, Apple says that you can remove a Rapid...
iPhone 14 Pro Purple Front and Back MacRumors Exclusive feature

iPhone 14 Is Just a Few Weeks Away: Three Tips to Prepare for the New iPhone

Wednesday August 10, 2022 4:08 am PDT by
The launch of the new iPhone 14 is just a few weeks away, meaning millions of iPhone customers will soon upgrade their existing iPhone or perhaps get an iPhone for the first time. Exclusive MacRumors iPhone 14 Pro renders by graphic designer Ian Zelbo Whether upgrading from an older model or this is your first iPhone, we've rounded up a few tips to help you prepare for the next flagship...
tony blevins car

Apple Procurement VP Departs Company After Vulgar TikTok Comment

Thursday September 29, 2022 12:38 pm PDT by
Tony Blevins, Apple's vice president of procurement, is set to depart the company after he made a crude comment about his profession in a recent TikTok video, reports Bloomberg. Blevins was in a video by TikTok creator Daniel Mac, who was doing a series on the jobs of people he spotted with expensive cars. After seeing Blevins in an expensive Mercedes-Benz SLR McLaren, Mac asked Blevins what ...

Popular Stories

apple watch ultra deuglify 1

Apple Watch Ultra User Mods Titanium Casing to 'Deuglify' Design

Tuesday September 27, 2022 8:05 am PDT by
An Apple Watch Ultra user has modified their new device's casing to add a brushed finish and remove the orange color of the Action Button in an effort to make it more visually appealing. The Apple Watch Ultra offers the first complete redesign of the Apple Watch since the product line's announcement in 2014, and while the design has been met with praise from many users, some have criticized...
Dark Sky App Featured

Dark Sky Removed From iOS App Store Ahead of Upcoming Shutdown

Wednesday September 28, 2022 4:27 pm PDT by
The Dark Sky weather app that's owned by Apple is no longer available for download in the U.S. App Store, suggesting that it has been removed ahead of schedule. Apple acquired Dark Sky back in March 2020 and has since incorporated elements of the app into the Weather app available on the iPhone (and soon, the iPad). Dark Sky remained available for purchase as a standalone weather app...
iphone 14 pro max vs 13 max 2

Camera Comparison: iPhone 14 Pro Max vs. iPhone 13 Pro Max

Thursday September 29, 2022 7:44 am PDT by
The iPhone 14 Pro and Pro Max introduce some major improvements in camera technology, adding a 48-megapixel lens and low-light improvements across all lenses with the new Photonic Engine. We've spent the last week working on an in-depth comparison that pits the new iPhone 14 Pro Max against the prior-generation iPhone 13 Pro Max to see just how much better the iPhone 14 Pro Max can be. Subscrib ...
apple watch ultra hammer test

YouTuber Tests Apple Watch Ultra Durability With a Hammer: Table Breaks Before the Watch

Sunday September 25, 2022 2:27 pm PDT by
A YouTuber has put Apple's claims for the durability of the Apple Watch Ultra to the test by putting it up against a drop test, a jar of nails, and repeated hits with a hammer to test the sapphire crystal protecting the display. TechRax, a channel popular for testing the durability of products, first tested the Apple Watch Ultra by dropping it from around four feet high. The Apple Watch...
tony blevins car

Apple Procurement VP Departs Company After Vulgar TikTok Comment

Thursday September 29, 2022 12:38 pm PDT by
Tony Blevins, Apple's vice president of procurement, is set to depart the company after he made a crude comment about his profession in a recent TikTok video, reports Bloomberg. Blevins was in a video by TikTok creator Daniel Mac, who was doing a series on the jobs of people he spotted with expensive cars. After seeing Blevins in an expensive Mercedes-Benz SLR McLaren, Mac asked Blevins what ...
iPhone 14 Pros in Hand Black Background Feature

Verizon iPhone 14 Pro Customers Reporting Cellular Connection Issues

Monday September 26, 2022 6:23 am PDT by
iPhone 14 Pro customers on the Verizon network in the U.S. are reporting issues with slow and unreliable 5G cellular connections and calls randomly dropping. Several threads on Reddit (1,2,3) and the MacRumors forums chronicle issues faced by Verizon customers and Apple's latest iPhone. According to user reports, signal strength on the iPhone 14 Pro is unreliable and weak, while other...
iPhone 15 to Switch From Lightning to USB C in 2023 feature sans arrow

Kuo: iPhone 14 Pro Max Popularity Could Lead to More Differentiation Between iPhone 15 Pro and iPhone 15 Pro Max

Wednesday September 28, 2022 10:22 am PDT by
Apple has seen high demand for the 6.7-inch iPhone 14 Pro Max, which could lead the company to further differentiate the next-generation iPhone 15 Pro and Pro Max, according to Apple analyst Ming-Chi Kuo. Apple could add exclusive features to the iPhone 15 Pro Max in an effort to encourage more people to purchase the larger and more expensive device. Kuo last week said that Apple asked...
iPhone 14 Pro Sports Scores Dynamic Island

iPhone 14 Pro Features Live Sports Scores in Dynamic Island on iOS 16.1

Monday September 26, 2022 7:52 am PDT by
Earlier this month, Apple announced that iOS 16.1 will enable a new Live Activities feature that allows iPhone users to stay on top of things that are happening in real time, such as a sports game or a food delivery order, right from the Lock Screen. On the iPhone 14 Pro and Pro Max, Live Activities also integrate with the Dynamic Island. Premier League match in Dynamic Island via Paul Bradford ...
iOS 16

Everything New in the Latest iOS 16.1 and iPadOS 16.1 Betas: Stage Manager Expansion, Wallpaper Tweaks and More

Tuesday September 27, 2022 11:36 am PDT by
Apple today released new betas of iOS 16.1 and iPadOS 16.1 to developers, tweaking some of the functionality that's been introduced in prior betas and in the case of iPadOS 16.1, adding a major new feature to Stage Manager. We've rounded up everything new in both betas below. Wallpaper Updates Apple has updated the Wallpaper section of the Settings app to allow users to swap between...
General iOS 16 Feature Yellow

Some iOS 16 Users Continue to Face Unaddressed Bugs and Battery Drain Two Weeks After Launch

Monday September 26, 2022 7:34 am PDT by
Today marks exactly two weeks since Apple released iOS 16 to the public. Besides the personalized Lock Screen, major changes in Messages, and new features in Maps, the update has also seen its fair share of bugs, performance problems, battery drain, and more. After major iOS updates, it's normal for some users to report having issues with the new update, but such reports usually subside in...