Knew he would not get any prison or significant penalties. These people in power have zero fear of consequences from our legal system. Why not as Nike slogan says “just do it”. There is no downside whatsoever. I am above the law and better than all you who obey our laws. The bottom line as to why they do it…ego's.
He still pocketed $50K... not a bad scheme all things considered.
Not hard to imagine tbh. Money buys lots of cool things. It gets you out of jams, if he secretly stole more money he could have afforded a better lawyer for example.
The crime literally carries a prison sentence. It's written into the law. You are arguing for leniency.
The prosecutors were asking the judge to apply the actual sentence terms that are written into the law. The defense was arguing for leniency. The prosecutors made the very valid point that part of the reason sentences are imposed is to deter future criminals from committing such acts. That is fundamental to the moral, philosophical and ethical, and historical basis of criminal law.
You were specifically ignoring the entire context of western law to twist the tiny fragment of excerpted words of the prosecutor to make your point.
Read the article and my post. The prosecutor specifically stated he wanted to make an example when asking for a harsh sentence and the judge disagreed.
Making an example of somebody doesn't HAVE to mean they are getting excessively punished. It can just as easily mean that they aren't getting off light.
Agreed, but that’s not what the prosecutor was insinuating.
Was thinking exactly the same.
Former Apple director of corporate law Gene Levoff was today sentenced to a fine and four years of probation for insider trading, according to Bloomberg. Levoff was facing up to two years in prison, but he will avoid time behind bars.
Levoff's role at Apple was supposed to include ensuring that Apple employees were compliant with the company's insider trading policies, including enforcement of "blackout periods" around Apple's earnings reports, but he ended up committing the crime he was meant to police.
Due to his position, Levoff was given access to Apple's earnings results before they were made available to the public, and he used the information to buy Apple shares prior to better-than-expected results, and sell shares when there were weaker-than-expected earnings. Levoff earned around $277,000, and avoided losses of around $377,000 before he was fired by Apple in 2018.
Levoff last June pleaded guilty to six counts of securities fraud for insider trading, and his sentencing took place today. In addition to four years probation, Levoff will pay approximately $604,000.
Federal prosecutors argued that Levoff should be sent to prison for insider trading to deter other corporate executives from committing a similar crime, but the judge overseeing the case said that he didn't feel it was necessary because Levoff lost his job and will no longer be able to practice law.
Article Link: Former Apple Lawyer Gene Levoff Avoids Prison After Insider Trading Conviction
My math is:
Your social circle and family won’t see you in the same way again. Trust gone and shame arrives. For me that would be worse than any federal punishment.
