A bail hearing for Paul Shin Devine, the Apple executive embroiled in a bribery scandal, has heard that he had $150,000 and $20,000 in foreign currency stashed in shoe boxes in his home.
The hearing is to assess the risk of Devine fleeing the country and, before agreeing to any bail terms, the government wants access to two safe deposit boxes owned by Devine and the freezing of any foreign bank accounts he may have.
“We know about some accounts and some statements but not statements for all the accounts we believe are out there,” assistant US attorney Michelle Kane told the judge, according to a report by Bloomberg.
“We’d ask that we be allowed to see what’s in those safe deposit boxes.”
US magistrate judge Howard Lloyd said that he would not release Devine on $600,000 bail unless he opens up all foreign bank accounts and surrenders his and his wife’s passports. Devine’s family have agreed to post bail.
Devine and a partner are accused of 23 counts of money laundering and wire fraud and he is also facing a civil suit from Apple. Each count carries a maximum sentence of 20 years in prison.
He is accused of taking over $1m in bribes from third party suppliers in exchange for product pricing and specification information and details of competing bids for Apple contracts. The case has already prompted one resignation from a company supplying Apple.
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