Ex-Apple Exec Who Oversaw Insider Trading Policy Profited On Inside Info, SEC Says
The agency says Gene Levoff used prior knowledge of earnings to buy and sell millions of dollars in Apple stock, even as he was responsible for overseeing compliance with rules on insider trading.
Updated at 2:35 p.m. ET
The U.S. Securities and Exchange Commission says the executive who was in charge of Apple's insider trading policy himself committed insider trading in 2015 and 2016 — in one case, selling off about $10 million in Apple stock in advance of a quarterly earnings announcement.
That executive is Gene Levoff, who was until last year Apple's Senior Director filed Wednesday in U.S. District Court in New Jersey, as head of the company's corporate law group, Levoff was responsible for ensuring compliance with Apple's insider trading policy, as well as determining the criteria for those employees — including himself — restricted from trading around quarterly earnings announcements.
