Apple suppliers in bribery charges
Date: 18 Aug 2010
The two Apple suppliers named as having benefited from bribery allegedly received by its procurement executive Paul Devine have responded to charges. Devine has been accused by the company of having received more than $1m from Asian suppliers in return for confidential market information.
Taiwan firm Pegatron said that it has now suspended a manager that had been involved in the practices pending its own investigations.
South Korea's Cresyn has denied any wrongdoing, saying that it had signed a legal consultancy agreement with Paul Devine providing legal information about US market trends. However, Apple has said that the consultancy agreement included confidential information such as Apple product roadmaps and sales forecasts.
Devine is currently held in prison pending trial.
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In a recent article, the BBC's economics editor Robert Peston highlighted the fact that in 2012 the chances are that the economy - punch drunk as it is from the various flavours of debt crisis it has been pummelled with over the course of the year - will be hit by the collapse of a major bank and / or government.
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