Former Apple manager Paul Devine pleaded guilty in federal court in San Jose on Monday to a massive kickback scheme involving Apple’s supply chain.
Devine will forfeit $2.25 million in proceeds and property, the U.S. Attorney said.
Devine provided suppliers with details of Apple’s product roadmap and pricing targets in exchange for hefty kickbacks. When he was busted, feds found about $150,000 in shoeboxes under his bed and more money in foreign accounts and safe deposit boxes.
Devine originally pleaded not-guilty but later agreed to protect Apple’s trade secrets if the case came to court. That move was seen as a way to get a favorable plea bargain. Devine had faced 23 counts of wire fraud and money laundering. He plead guilty to one count of each statutory violation.
He awaits sentencing on June 6. He could face up to 20 years in jail, the U.S Attorney said.
Full press release below: