Gene Levoff, a former high-ranking legal counsel at Apple, has been fined $1.6 million by the U.S. Securities and Exchange Commission (SEC) for engaging in insider trading. The penalty in this civil case is notably more severe than the outcome of a related criminal case. In the criminal prosecution conducted by the Department of Justice (DOJ) last year, Levoff avoided prison time. The recent SEC decision underscores the agency’s stringent stance on violations of securities law, even as parallel criminal prosecutions may result in less severe penalties.
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