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Alleged bad Appler stashed $150,000 in shoeboxes

Safe deposit boxes still a mystery

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The Apple manager accused of accepting kickbacks in exchange for company secrets had $150,000 stashed in shoeboxes when authorities searched his home, according to news reports.

Paul Devine, who faces federal charges and a private lawsuit alleging he was paid $1m to provide confidential data to suppliers of iPhone and iPod accessories, also had $20,000 in foreign currency in his possession. During a court hearing Monday, prosecutors also cited two safe deposit boxes, which they said may contain still more booty.

“We know about some accounts and some statements but not statements for all the accounts we believe are out there,” Assistant US Attorney Michelle Kane told the US Magistrate Judge Howard Lloyd in a reference to bank statements seized during the search. “We’d ask that we be allowed to see what’s in those safe deposit boxes.”

The revelations came during a hearing over the terms of Devine's release. He was ultimately ordered to transfer the contents of his accounts and an additional $600,000 in bail. He and his wife must also surrender passports to the court. His mother agreed to post the deed to her Maryland house as bond, and a brother will be responsible for $50,000 of the $600,000 bail.

Devine has pleaded not guilty. A hearing is scheduled for next month.

More coverage from IDG News and Bloomberg News is here and here. ®

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