Slashdot Mirror

← Back to Stories (view on slashdot.org)

Apple Manager Arrested In Kickback Scheme

Posted by timothy on from the market-distortion-field dept.

pickens writes "A midlevel Apple manager was arrested Friday and accused of accepting more than $1 million in kickbacks from half a dozen Asian suppliers of iPhone and iPod accessories in a federal indictment unsealed and a separate civil suit. Paul Shin Devine, a global supply manager, and Andrew Ang, of Singapore, were named in a 23-count federal grand jury indictment for wire fraud, money laundering and kickbacks. 'Apple is committed to the highest ethical standards in the way we do business,' Apple spokesman Steve Dowling said in a statement. 'We have zero tolerance for dishonest behavior inside or outside the company.' The alleged scheme used an elaborate chain of US and foreign bank accounts and one front company to receive payments, the indictment said, and code words like 'sample' were used to refer to the payments so that Apple co-workers wouldn't become suspicious."

3 of 218 comments (clear)

  1. highest ethical standards by Anonymous Coward · · Score: 5, Insightful

    'Apple is committed to the highest ethical standards in the way we do business,' . That's why we manufacture in China.

    1. Re:highest ethical standards by BasilBrush · · Score: 5, Insightful

      On the wage front, it's fairly orthodox among modern economists to believe that a minimum wage does more harm that good to low income earnings (by making it impossible for many to get a job at all).

      That's not the experience in the UK. They introduced a minimum wage in 1999, and increased it every year. For years after, employment went up, not down. None of the claims that businesses would go bankrupt, or stop employing certain categories of workers turned out to be true.

      For sure there are problems with unemployment now because of the recession caused by the banking crisis. But that isn't caused by the minimum wage.

      If you examine executive pay for public companies, you'll see that companies usually can afford to increase the payroll. It's just that the executives get to decide which part of the payroll to increase, and big surprise, they choose to pay themselves more, rather than increase the wages of the lowest level employees. It takes minimum wage legislation or unions to deal with this problem.

  2. back dated options, anyone? by haystor · · Score: 5, Insightful

    'We have zero tolerance for dishonest behavior inside or outside the company.'

    *cough*
    back dated options
    *cough*

    --
    t