Apple ex-lawyer ordered to pay $1.15 million SEC fine for insider trading | Reuters

The former senior Apple lawyer who avoided prison time after pleading guilty to insider trading must pay a $1.15 million fine in a related U.S. Securities and Exchange Commission civil case, a federal judge ruled on Tuesday.

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The proposed SEC fine was triple Levoff’s estimated $384,400 profit or avoided losses on six trades.

In court papers, Levoff called the fine unnecessary, saying he had been punished enough and made no effort to hide his stress-induced trading, which he labeled “self-sabotage.”

But the judge said Levoff, a Stanford University law school graduate, knew his trading was wrong, and could handle the fine given his estimated $13 million net worth.

Source: Apple ex-lawyer ordered to pay $1.15 million SEC fine for insider trading | Reuters