8/19/2010 11:16:00 AM
NEWS BRIEFS
Fastener Company Accused of Involvement in Apple Kickback Case
The former Apple manager charged with accepting more than $1 million in insider information kickbacks from Asian suppliers was reportedly getting money from a fastener company among others, according to a lawsuit filed by Apple.
Fastening Technologies of Singapore was one of at least six companies named in the computer giant’s civil lawsuit against former global supply manager Paul Devine.
Devine, 37, was accused of money laundering and wire fraud in a 23-count indictment unsealed Aug. 13 in federal court in San Jose, California. He has pleaded innocent to the charges, which could bring a 20-year prison sentence for each count.
Devine allegedly sold the suppliers of iPhone and iPod accessories confidential data that helped them win better contracts from Apple, according to the indictment.
According to its website Fastening Technologies was established in 1999 to distribute fasteners to the sheet metal fabrication, metalworking and industrial electronics industries. ©2010 GlobalFastenerNews.com
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