SEC sues Apple lawyer

SECURITIES regulators are filing civil fraud charges this week against Apple's former general counsel and cut a deal with its former chief financial officer over their alleged roles in the company's stock options scandal.

According to Associated Press, Apple counsel Nancy Heinen is to be charged with fraud in connection with two options grants. One involved a grant to Apple Chief Executive Steve Jobs for 7.5 million shares and another involved a grant made to top executives, including Heinen herself.

Apple's former CFO Fred Anderson has hammered out a settlement with SEC officials which is believed to be a fine of about $150,000 and repay option gains of about $3.5 million, the person said.

The pair are the first Apple executives to face legal action since the outfit admitted that it had backdated some stock options grants.

Heinen's brief says that she will be fighting the case.

No one knows if any charges are going to be bought against the other beneficiary of the backdating scandal, Steve Jobs. He recently hired a lawyer to deal with the case.

More here.