The Inquirer-Home

SEC has Jobs in its sights

Apple CFO says Jobs knew about backdating
Wed Apr 25 2007, 10:42
US SECURITIES and Exchange Commission investigators might have enough evidence to get Steve Jobs chucked out of Apple.

Apple's ex-CFO, Fred Anderson who recently did a deal with prosecutors, said that he warned Jobs on that the stock option plans was a bit dodgy.

In a statement was released by Anderson's lawyer, Anderson said that he was told by Jobs in late January 2001 that Steve had the agreement of the Board of Directors for the Executive Team grant on January 2, 2001.

Anderson warned Jobs that the Executive Team grant would have to be priced based on the date of the actual Board agreement or there could be an accounting charge.

However Jobs told him that the board had given its prior approval and that the board would legally verify it.

If this is all true, then Jobs seemed to know a lot more about the share deal than he claimed and he was warned by his money man. It might be enough for SEC to prosecute and crucify the Apple Messiah. One of the things it could demand is that Jobs is chucked out of the company and not allowed to run another.

More here. µ

 

Share this:

blog comments powered by Disqus
Advertisement
Subscribe to INQ newsletters

Sign up for INQbot – a weekly roundup of the best from the INQ

Advertisement
INQ Poll

Dead electronic devices to be banned on US-bound flights

Will the new rules banning uncharged devices be effective?