Paul Shin Devine, a mid level global supply manager at Apple, has pleaded not guilty during his arraignment on fraud and money laundering charges Monday afternoon. Mr. Devine has been accused by Apple of taking bribes and kickback in exchange for leaking advanced product information to Apple’s component suppliers in Asia.
Bloomberg reported that federal prosecutor Michelle Kane asked the courts not to allow Mr. Devine to be released on bail, arguing that the former Apple employee was a risk flight. A bail hearing has been set for Wednesday, August 18th.
The story of Mr. Devine’s arrest broke over the weekend, with Apple claiming that he accepted more than one million dollars over the course of the last few years in exchange for providing advanced product information that Apple’s suppliers then used to in contract negotiations.
Mr. Devine allegedly used several on-shore and off-shore bank accounts, including accounts set up in his wife’s name, to funnel the money for use by both him and a Singapore-based co-conspirator who helped arrange the deals.