Apple Execs Charged

Two Apple executives, former CFO Fred Anderson and former general counsel Nancy Heinen, have been charged in the options backdating scandal. Anderson has reached an agreement with the SEC in which he doesn’t admit or deny guilt and only returns $3.5 million he profited by from the options backdating. Anderson’s lawyer suggests he’s not only cooperating but implicating Apple CEO Steve Jobs:

[L]egal documents filed in the case infer that Jobs played a role in at least one of the instances of backdating. SEC officials would not comment on whether Jobs has been implicated during their months long investigation, nor would they comment on Anderson’s assertions about Jobs.

Why would they cut a deal with Anderson if they didn’t believe him or weren’t going to use his testimony?


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