More than $150,000 found in home of Apple manager
Paul Shin Devine allegedly took kickbacks from Apple suppliers
According to a statement from prosecutors, federal agents found more than $150,000 in cash stored in shoe boxes during a search of the house of Paul Shin Devine earlier this month.
Devine, who works as a global supply manager for Apple, was arrested last week for allegedly taking kickbacks from several of the company's suppliers. Last week, Devine pleaded not guilty to 23 counts of wire fraud, money laundering, conspiracy, and accepting kickbacks.
The indictment alleges that he used his position in the company to acquire confidential information, which he then sold to several suppliers to help them negotiate better contracts with his employer.
Aside from the American currency in the shoe boxes, Devine was also found to have $20,000 in other currencies.
Devine has been ordered to give federal prosecutors access to two personal safe-deposit boxes because authorities believe that there is more to the money found in his home. He has also been ordered to sign over the contents of what Department of Justice Attorney Michelle Kane called "a significant number of accounts overseas."
Devine will be released from jail before his trial once he meets the conditions and pays a bail bond payment of $6,000. In addition, Apple has filed a civil suit against Devine. The company alleges that Devine accepted more than $1 million in bribes from suppliers over the past few years.
The six Asian companies that are mentioned in the indictment supply accessories for the iPhone and the iPad . Two of the companies have announced their own internal investigations, while a third has denied engaging in any illegal practices in the matter.