Ex Apple CFO Runs Out Of Options… Stock Options?

Former Apple Chief Financial Officer, Fred Anderson hit the news recently, having been acused of robbing Apple of a whopping $3,500,000 through backdating stock options. With some charges dating back to 2001, when Anderson still worked at Apple, he was granted multiple stock options that were backdated in the middle of a meeting with the board that supposedly ‘never took place’. Anyhow, to cut a long story short, the fraudster was offered a dirty deal by the SEC - he should pay back the original 3.5mil, plus an extra $150,000 coming out of his own pocket. Even though he denies any wrongdoing, Anderson accepted the deal, declining to comment to any media in the doing so. Weird, eh? If the guys innocent, he should just fight it out. Afterall, $3,650,000 is quite a bit of cash.
Next on the SEC’s roadmap? Nancy Heinen. Former legal aid to Apple. Heinen reportedly took part in a $7.5 million grant of options during the same falsified board meeting, but unlike Anderson, Heinen plans to contest the charges put to her. I’m taking bets right now, that she’ll get locked up for a pretty long time and slapped with an even more hideous fine…
Any bidders? via AppleInsider.
Oh - and sorry for only having the quickie post today, and not even having one yesterday! We’ve had some funny issues, of late. Yesterday (and for most of today) I’ve been unable to access the site, whilst at the same time, people in India, Australia and America have been able to. DNS? Hosting? Something got Dugg on the server? Routine maintenance? Who knows - but thanks to Nate we’ll be running smooth sometime soon again. You rock man!
















April 25th, 2007 at 12:45 am
Hey there David, I found this link and thought you’d be interested, being a brit and all!
http://www.hackday.org/