Filed under: Apple Corporate, Apple Financial, Steve Jobs, Bad Apple, Apple
Fred Andersen pays fine, says he didn't do it
We've already mentioned that Fred Andersen has agree to pay $3.5 million in fines to SEC in regards to the Apple backdating scandal. However, he is not going quietly into that good night. Mr. Andersen has released a statement (requires a WSJ subscription) which emphasizes that he admits no wrong doing. He goes on to claim that he warned Steve Jobs that if this compensation business wasn't handled correctly there could be some fallout. Jobs assured Fred that it was all on the up and up.I don't think this story will be going away any time soon.
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Reader Comments (Page 1 of 1)
icerabbit said 3:26PM on 4-24-2007
The CFO blames SJ?
I thought SJ previously stated he's no financial expert or accountant or ?; and assumed whatever the accountants / experts wanted to do was OK.
Anyhow. The CFO knew better and should not have backed down from the issue.
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Jon said 8:49PM on 4-24-2007
Why would an innocent man pay a fine when he has done no wrong? Only to prevent it going to court and certain unwanted details being dug up, no doubt.
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Deb said 7:05PM on 4-24-2007
He is paying this money to the SEC? What do they do with it? Who does the money belong to? Is it the shareholders, apple, government?? Obviously this whole topic puzzles me.
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fd said 9:29PM on 4-24-2007
Thing is, he's not innocent. He is the chief financial officer and so must have signed off on the deal / submitted it. Like your accountant would on your tax return, no?
I wonder about who's money it is as well. If it is from his pocket or insurance ... great. I guess when you're a big ?illionaire what's a few million to make a problem go away?
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YankInOz said 3:21AM on 4-25-2007
Reality - I think that Fredo is pi$$ed off becau$e he had to give hi$ hard earned dollar$ back to $omebody. What wa$ hi$ $alary? I bet it wa$ more than $1 like Job$. I$ anyone innocent in $ituation$ like thi$. I don't think $o. But Fredo i$ an A$$HOLE for going public. A$ far a$ I am concerned, hi$ impeccable reputation i$ in the $hitter. Who in their right mind would want him on their board or on $taff? Happy Retirement, Fredo. You ju$t created it for your$elf. What do you think could be the motivation for hi$ diatribe of legale$e? I am $ure it i$ not hi$ $en$e of fairplay and corporate re$ponSibility. A$ the CFO - it happened on hi$ watch. He i$ culpable. Period. Phuquewad is hi$ new corporate title I am $ure. Put that on your re$ume, Dickweed.
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