The ex-Apple manager accused of taking kick-backs from Asian suppliers could face 20 years in jail after reversing his previous plea and admitting to the charges.
California resident Paul Devine, 38, was a former global supply manager. He worked for Apple between 1005 and 2010, sourcing parts for iPods and iPhones.
He was accused last summer of leaking confidential information such as procurement practices, product specifications and pricing targets to the suppliers in order to help them negotiate more favourable contracts.
Devine was arrested after the discovery of a series of incriminating emails. Although he initially pleaded not guilty, he yesterday admitted carrying out wire fraud, conspiracy and money laundering, says Reuter.
The money was apparently wired to his wife's bank account in small amounts to avoid detection, and more than $150,000 was reportedly found stashed away in shoe boxes at his home. He's admitted shuttling funds between several US and international accounts.
The financial loss to Apple has been estimated at more than $2 million, which Devine has agreed to forfeit. Sentencing is scheduled for early June in a San Jose federal court.