Former Apple lawyer accused of insider trading

US prosecutors have charged an insider's crime to a former Apple's attorney.

Gene Levoff is accused of using confidential information to negotiate the company's securities for personal purposes.

Levoff, who was responsible for enforcing Apple's policies on insider trading, is charged with breaking these rules several times over.

Apple fired him last year after being contacted by the authorities and conducting an internal investigation.

The US Securities Exchange Commission (SEC) has stated that Mr. Levoff has been engaged in insider trading several times between 2011 and 2016.

"The alleged exploitation of his access to Levoff's financial information by Apple was particularly egregious given his responsibility for implementing the company's policy of compliance with insider trading." "said Antonia Chion, deputy director of the SEC's application division.

"The SEC is committed to pursuing insiders who are failing their obligations to investors."

In 2011 and 2012, the former head of corporate law at Apple had made profits of 245,000 USD (193,801 £) by engaging in insider trading, said the SEC.

Levoff also traded Apple stocks prior to the announcement of its quarterly results in 2015 and 2016, realizing cumulative profits of approximately $ 382,000.

The charges carry a maximum penalty of 20 years in prison and a fine of up to $ 5 million.