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SEC Settles with Anderson, Pursuing Heinen

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Original poster
Apr 12, 2001
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As followup to the ongoing backdating story at Apple, Reuters reports that former Apple CFO Fred Anderson has settled with the SEC regarding the backdating issues surrounding Apple.

The settlement includes a $150,000 fine and repayment of option gains of about $3.5 million. This settlement avoids any admission of wrongdoing from the former CFO.

Meanwhile, it appears that the SEC will pursue legal action against former general counsel Nancy Heinen.

Heinen, who will be accused of manipulating one of her own option awards as well as a grant to Steve Jobs, Apple's chief executive, plans to contest the charges, the Journal reported.
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The most recent reports have cleared Steve Jobs of any charges regarding the matter.
 
Article Link
https://www.macrumors.com/2007/04/24/sec-settles-with-anderson-pursuing-heinen/
The year where we hear just as much or more about Apple Executives and Stock scandals than we do about new products. 2007, It's just the beginning. ;)
 
roland.g said:
The year where we hear just as much or more about Apple Executives and Stock scandals than we do about new products. 2007, It's just the beginning. ;)
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It sure seems like it, doesn't it? But if they settled with Anderson, and don't pursue Jobs (the only two high profile people in the case) the story value drops dramatically.

Which just might mean another month, then done.

Woot!

:D
 
Why on earth can you "settle" with the government? It's funny how you can basically buy your way out of being a criminal. You pay them $3.5 million and now nothing happened? "I knowingly tried to steal millions of dollars from Apple's shareholders, but yeah, I'm not guilty because I'm giving it to the government instead". Ah, the American Way.
 
well i guess this is partly good news, and partly bad.

at least Anderson settled and hopefully it's over with for him.

but we'll be hearing more about Heinen though
 
HiRez said:
Why on earth can you "settle" with the government? It's funny how you can basically buy your way out of being a criminal. You pay them $3.5 million and now nothing happened? "I knowingly tried to steal millions of dollars from Apple's shareholders, but yeah, I'm not guilty because I'm giving it to the government instead". Ah, the American Way.
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Right -- if the guy is truly innocent he should ask for his day in court.

I say we throw the lot out and start from scratch! Any volunteers for CEO?
 
HiRez said:
Why on earth can you "settle" with the government? It's funny how you can basically buy your way out of being a criminal. You pay them $3.5 million and now nothing happened? "I knowingly tried to steal millions of dollars from Apple's shareholders, but yeah, I'm not guilty because I'm giving it to the government instead". Ah, the American Way.
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Though it does appear to be quite sad, it probably saved the American Tax Payers much money to go after this guy and then later the cost of jailing him.
 
It could be that much for one's legal TEAM. This also avoids him going to jail and he never admitted any wrong doing for the mere price of 3.5 mils.

err ****ing edits
 
HiRez said:
Why on earth can you "settle" with the government? It's funny how you can basically buy your way out of being a criminal. You pay them $3.5 million and now nothing happened? "I knowingly tried to steal millions of dollars from Apple's shareholders, but yeah, I'm not guilty because I'm giving it to the government instead". Ah, the American Way.
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He pays Apple the 3.5mil, and the SEC the 150grand fine.
 
Maybe we could spell Nancy's last name the same throughout the article. If we are going to report bad news about her, we could at least get her last name right.
 
HiRez said:
Why on earth can you "settle" with the government? It's funny how you can basically buy your way out of being a criminal. You pay them $3.5 million and now nothing happened? "I knowingly tried to steal millions of dollars from Apple's shareholders, but yeah, I'm not guilty because I'm giving it to the government instead". Ah, the American Way.
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I agree 100%. America, the land of hypocrites!
 
You can settle with the government because if you admit you're guilty and spare them the cost of the judges, court time, laywers, etc, they'll agree to give you a less stiff penalty.

I mean, these are white collar crimes, nothing that bad ever happens to these people. Might as well save me the tax dollars, she didn't pull a Ken Lay or anything.
 
GanleyBurger said:
.

Just another Tuesday with no new hardware...:mad:
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people stop kidding yourseleves.


Its a bit late to introuduce new upgrades now with SR right around the corner...

beside we recently got introduced to an 8 core mac pro to wet your mouth.
 
The most recent reports have cleared Steve Jobs of any charges regarding the matter.
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I think what you meant to say is that they can't find enough evidence to make the charges worth trying. Nothing has been found that 'clears' Jobs of anything. He's the ***** CEO, and he got the money. His excuse was that he didn't 'appreciate' the 'accounting implications.' So, he knew what was going on, he just didn't realize it had 'implications.'

"Yes, your honor, I knew I was putting money in my pocket, I just didn't realize it belonged to anybody!"

Mind you, this is the man who walks into meetings with Disney, record companies, hardware companies, and f's them in the a**. And has been doing it for 30 years! Didn't understand the 'implications??!?' Yeah, right!
 
Maccus Aurelius said:
I wish I was rich. You poor stockholders would be my personal playthings, and then I can bribe the gub'mint. I kid, you guys are great.
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IRS is looking for you after that.

Looks like some of these folks wont be able to go out to lunch for a week or so. Some of these execs make way too much money.

I bet shockholders see little or none of the money.
 
Macrumors said:

The settlement includes a $150,000 fine and repayment of option gains of about $3.5 million. QUOTE]

HiRez said:
Why on earth can you "settle" with the government? It's funny how you can basically buy your way out of being a criminal. You pay them $3.5 million and now nothing happened? "I knowingly tried to steal millions of dollars from Apple's shareholders, but yeah, I'm not guilty because I'm giving it to the government instead". Ah, the American Way.
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"Fine" = giving it to the government ($150K).

"Repayment" = giving it back to the company (and therefore the stockholders) ($3.5M).
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Come ON!

Yawn!!!

Great reporting really it is. I am glad that I can get news on Apple's other related happenings. But....

Where is my 12" MacBook Pro/13" MacBook with no polycarbonate case and backlit keyboard and dedicated graphics memory? (>_<) :mad:

Where is my iPod HD with all functions and body construction like iPhone without the phone part and flash based HDD at 32 - 64GB? (>_<) :mad:

Where is my 24" iMac with Quad Core chip and 1TB Hitachi HDD? (>_<) :mad:

Ouch... my head hurts from all that squinting. :D
 
BigPrince said:
people stop kidding yourseleves.


Its a bit late to introuduce new upgrades now with SR right around the corner...

beside we recently got introduced to an 8 core mac pro to wet your mouth.
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We are looking for something a tad bit below $4000 - $4600. Maybe around $1500 give or take a dollar or so. :rolleyes:
 
Wall St. Journal

The Wall Street Journal is now posting the following text under the banner 'Breaking News' on the site's home page:

"Former Apple CFO Fred Anderson issues statement blaming Steve Jobs for backdated options grant. Full article coming soon."
 
mac_airport said:
The Wall Street Journal is now posting the following text under the banner 'Breaking News' on the site's home page:

"Former Apple CFO Fred Anderson issues statement blaming Steve Jobs for backdated options grant. Full article coming soon."
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Man, this is better than a Brazilian soap opera! :D
 
good thing jobs isn't having anything brought against him, positive news.

and why is everyone getting upset over him having to repay 3.5 mil and what not and getting away with it? lifes not fair deal with it.

if you had millions of dollars and they went "well...if you do this this and this you can avoid jail time" you'd do it in a heart beat too

guy worked hard to get where he is at, I'm fine with him or anyone else being able to pay off whoever to get out of trouble. its just the way things are, everyone would do it if they had that kind of cash/power
 
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