Fred Anderson gives back options profit, takes $150k fine

[Queso]

Apple's own erstwhile Mr. Anderson has reportedly settled with the SEC inquiry into the backdating of stock options and handed over $3.5million of profits plus $150k as a fine. Fred was a long time CFO of Apple Computer Inc. but was one of the key names highlighted by the internal audit carried out by the company prior to the Feds getting involved.

The Register

 

[clevin]

thats a lot of money!

 

[Queso]

thats a lot of money!

For you and I maybe, but for someone who held a CFO position for a number of years and is still board level at several companies, it's hardly going to make a dent. The important thing for us is that with Fred being let off reasonably lightly even though he was in charge of the department at the time of the backdating, it's very unlikely that Steve Jobs is going to be going anywhere.