Andre Yoskowitz
24 Aug 2010 18:53
Earlier in the month, former Apple employee Paul Devine was arrested and charged with selling secrets to Asian suppliers in exchange for over $2 million in kickbacks.
Devine, one of Apple's global supply managers, was charged "with offenses that include wire fraud, money laundering and unlawful monetary transactions," which began in 2006.
Today, federal prosecutors have alleged that Devine stashed over $150,000 in cash in shoe boxes in his home, which were then discovered by federal agents during a raid.
Devine is also said to have been hiding $20,000 in different foreign currencies.
To be released from prison on bail, Judge Howard Lloyd says Devine must transfer all cash he has in foreign bank accounts and post that along with $600,000.
It is unclear how much money will be transferred over, but prosecutors say it is "very significant."
Devine has pleaded not guilty to the charges.