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Accused Apple supply manager can leave jail with lien against home [u]

post #1 of 14
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The Apple supply manager charged with selling company secrets for more than a million dollars in kickbacks will be able to bond out of prison once a $440,000 lien against his mother's home is posted with the court [updated].

Update: On Wednesday a judge granted Paul Devine permission to leave jail on bond once the lien against his mother's home is posted. He also paid more than $600,000 from overseas bank accounts, posted $50,000 from his brother, and pledged to pay another $313,000 from Korean bank accounts.

Earlier, it was revealed that Devine offered $612,407 apparently held in foreign bank accounts for bail, according to court documents obtained by Bloomberg. But his attorney said banking laws in Korea, where about $313,000 is held, prevent Devine from quickly transferring the money.

"It appears that it will be very time-consuming, and difficult -- if not impossible -- to transfer these funds from Korea to the United States," his attorney, Raphael Goldman, wrote. "The defense submits that Mr. Devine should be released while we explore possible ways to transfer the remaining funds from Korea."

In the meantime, the 37-year-old Apple manager has pledged his San Francisco, Calif., home and his mother's house in Maryland as collateral for the bond. His lawyer also indicated that he has met most conditions for release set by the court.

Among the cooperation cited by Devine's attorney was access to two safety deposit boxes apparently given to investigators. That access was one of a number of orders the court made last month, in addition to requiring that Devine and his wife surrendering their passports.

Goldman also cited his his client's apparent willingness to help protect trade secret information he knows about Apple. Devine and the prosecution have agreed to procedures on how data will be handled during the pretrial bargaining phase, but may still challenge how that information will be used in his trial.

In August, Devine was arrested and charged with wire fraud, kickbacks and money laundering. Prosecutors have alleged that the Apple global supply manager used his security clearance to provide confidential information to the hardware maker's suppliers. Apple's partners then allegedly used the information to negotiate favorable contracts with Apple, and, the prosecution says, paid kickbacks to Devine.

Devine is accused of accepting more than a million dollars from Asian suppliers, and investigators found $150,000 stashed in shoe boxes in his home. He has pleaded not guilty, and also faces a civil suit from Apple.
post #2 of 14
Released for only 600k? Well that seems a bit too generous. Considering he probably still has the other 400k from ill-gotten means...
post #3 of 14
Quote:
Accused Apple supply manager hopes to post $600K for bail

How much more than a million did this guy get in kickbacks? Jeeez!
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post #4 of 14
This guy has money stashed overseas and is therefore a flight risk.
post #5 of 14
Maybe those shoe boxes will come in handy, eh?
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post #6 of 14
The defense submits we should release him while we figure out if he can actually post bail?

Isn't the whole point of bail to get that money before releasing the person? Or is the defense not clear on that? And I agree, seems like he'd be a flight risk if he has money stashed away in foreign bank accounts - not to mention that the money he's proposing to use is probably part of the kickbacks.
post #7 of 14
The fact he has all that money out there seams to be evidence of his guilt. Can you use evidence to post bail?

With bail I believe you get it back when you appear for court/trial. If you run you loose it. So he could get that back. Lawyer fees, the final decision and penalties could eat it up after that.
post #8 of 14
Quote:
Originally Posted by BTBlomberg View Post

The fact he has all that money out there seams to be evidence of his guilt. Can you use evidence to post bail?

With bail I believe you get it back when you appear for court/trial. If you run you loose it. So he could get that back. Lawyer fees, the final decision and penalties could eat it up after that.

Not necessarily, as an apple exec, or top official he'd make well into 6 digits a year, with his wife's income, I'm sure saving 600k would be no problem.

 

 

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post #9 of 14
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Originally Posted by emig647 View Post

Not necessarily, as an apple exec, or top official he'd make well into 6 digits a year, with his wife's income, I'm sure saving 600k would be no problem.

Yeah, the suspicious bit seems to be having all this money in apparently difficult-to-transfer foreign accounts when you're accused of taking kickbacks overseas.

I'm guessing nobody wants to secure that bond then since I'm sure he could come up with $60K himself - or maybe bail is really $6 million and he needs to come up with $600K to post bond? It's news, so it's rarely all facts.
post #10 of 14
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Originally Posted by mrstep View Post

It's news, so it's rarely all facts.

Can I add that to my signature?

 

 

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post #11 of 14
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Originally Posted by bartfat View Post

Released for only 600k? Well that seems a bit too generous. Considering he probably still has the other 400k from ill-gotten means...

"once a $440,000 lien against his mother's home is posted with the court "
post #12 of 14
Quote:
Originally Posted by emig647 View Post

Not necessarily, as an apple exec, or top official he'd make well into 6 digits a year, with his wife's income, I'm sure saving 600k would be no problem.

So you saving 60%- 80% of your income would be no problem for you?
post #13 of 14
Seriously?

Was this a classic case of someone living in their mom's basement?
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post #14 of 14
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Originally Posted by justflybob View Post

Seriously?

Was this a classic case of someone living in their mom's basement?

Now, you know why he took bribes: to get his own flat

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