$150,000 found in arrested Apple manager's home
Paul Shin Devine, arrested for allegedly taking kickbacks from overseas suppliers, was found to have stored large sums of cash in shoe boxes during a search by federal agents.
A search of Apple manager Paul Shin Devine's house earlier this month by federal agents turned up more than $150,000 in cash stored in shoe boxes, according to statements made by prosecutors Monday.
Devine, an Apple global supply manager, was arrested last week for allegedly taking kickbacks from several suppliers to Apple. He pleaded not guilty to 23 counts of wire fraud, money laundering, conspiracy, and accepting kickbacks last week. The indictment says he used his role at Apple to acquire confidential information, which he then sold to several suppliers to help them negotiate better contracts with his employer.
Besides the U.S. banknotes in the shoe boxes, Devine was also found to have $20,000 in other currencies. Because federal prosecutors believe that there's more to that stash of bills, Devine has been ordered to give them access to his two personal safe-deposit boxes and sign over the contents of what Department of Justice Attorney Michelle Kane called "a significant number of accounts overseas." That, along with a bail bond payment of $600,000, will secure his release from jail before his eventual trial.
against Devine, charging him with accepting 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 iPod. Two have announced their own internal investigations, while a third has denied engaging in any illegal practices in the matter.
CNET Blog Network member Lance Whitney contributed to this story.
Correction, Wednesday 6:38 a.m. PDT: This article initially gave an incorrect figure for the bail requirement set by the judge. The bail bond payment is set at $600,000.