05:44 PM EDT, 07/02/2024 (MT Newswires) -- A former Apple (AAPL) corporate lawyer was ordered by a federal judge in New Jersey to pay nearly $1.15 million in fines for insider trading after pleading guilty.

Gene Levoff, who was director of corporate law at Apple between 2008 to 2013, in December was sentenced to four years of probation, 2,000 hours of community service, a $30,000 fine and forfeiture of $604,000 in realized gains and avoided losses. The US Securities and Exchange Commission also sought the seven-figure penalty from Levoff, which was equal to three times his $382,480 profit resulting from his insider trades.

According to the indictment in the US District Court for the District of New Jersey, Levoff made a series of trades using information from Apple's ( AAPL ) quarterly and yearly financial results before it was made public.

"His misconduct was not only a breach of fiduciary duty to Apple, but also a betrayal of the market more broadly, which depends on experienced attorneys like Levoff to guide public companies and ensure lawful conduct," Judge William Martini wrote in his six-page order on Tuesday.

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