A former Apple lawyer has pleaded guilty to six counts of securities fraud for insider trading, according to a Department of Justice press release

Gene levoff’misappropriated material, nonpublic information about Apple’s financial results and then executed trades involving the company’s stock’. Charges were initially filed by the SEC as a civil complaint in 2019.

Levoff also served on Apple’s disclosure committee, a group that looked over company earnings reports and SEC filings before they were published.

Levoff was co-chairman of Apple’s disclosure committee, which reviewed and discussed the company’s earnings materials before they were publicly disclosed. When Apple posted strong revenue and net profit for a given financial quarter, he purchased large quantities of stock, which he later sold for a profit once the market reacted to the news. levoff mined these materials for inside information about Apple to guide his decisions to buy and sell stock ahead of its earnings announcements.

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