Apple Lawyer Charged in Insider Case Released on $500,000 Bond
(Bloomberg) -- A former Apple Inc. lawyer was released on a $500,000 bond after entering a not-guilty plea to insider-trading charges.
Gene Daniel Levoff appeared in federal court in Newark, New Jersey, on Wednesday, a week after prosecutors said he had traded on confidential revenue and earnings filings since 2011.
“We very much look forward to defending Mr. Levoff in this case,” his attorney, Kevin Marino, said after the brief hearing.
In setting the bond, U.S. Magistrate Judge Steven C. Mannion noted that Levoff had traveled extensively and held “extensive assets.”
Apple fired Levoff in September after placing him on leave two months earlier, according to a filing in a related lawsuit by the Securities and Exchange Commission. Over his decade-long career at Apple, he was one of the most senior executives, reporting directly to the general counsel.
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