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Crime The Almighty Buck The Courts Apple

Apple Exec Stashed $150,000 In Shoe Boxes 345

Posted by CmdrTaco
from the but-it'll-thaw-out dept.
angry tapir writes "US federal agents found more than US$150,000 in cash when they searched the house of Apple manager Paul Devine earlier this month, according to prosecutors. 'He had over $150,000 stored in shoe boxes,' Department of Justice Attorney Michelle Kane said. Devine was charged two weeks ago with taking kickbacks from Apple suppliers."
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Apple Exec Stashed $150,000 In Shoe Boxes

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  • Inflation (Score:5, Informative)

    by DocSavage64109 (799754) on Wednesday August 25, 2010 @11:55AM (#33369838)
    One of the problems with stashing $150,000 in cash is that you lose some $4,500/yr (or more) due to inflation. See http://en.wikipedia.org/wiki/File:US_Historical_Inflation_Ancient.svg [wikipedia.org]
  • Re:No app for that? (Score:5, Informative)

    by jeffmeden (135043) on Wednesday August 25, 2010 @12:01PM (#33369944) Homepage Journal

    Perhaps he just didn't think he would get caught since the money wasn't going through banks. After all, that's pretty much what I would do. Actually, that's where I would start. Then I would probably set up some sort of business, accept "cash payment" for whatever services rendered and then pay some taxes to make it all look legitimate. I know... that just makes too much sense, but then again, I believe my greed has limits where many others' does not.

    Ah, er, hey old article, help me out here... "The alleged scheme used an elaborate chain of US and foreign bank accounts and one front company to receive payments, the indictment said, and code words like 'sample' were used to refer to the payments so that Apple co-workers wouldn't become suspicious."

    Sounds like he thought of everything except what to do with the money once it was in his hands. What ever happened to burying it?

  • Re:No app for that? (Score:5, Informative)

    by Haffner (1349071) on Wednesday August 25, 2010 @12:01PM (#33369948)

    People lacking a significant criminal background ALWAYS tend to be stupid when it comes to hiding cash. Especially once you reach a certain amount where hiding it within your house requires multiple hiding spots. Wall sockets, light switches, and inside of old, large electronics (CRT monitors, VHS players) with difficult-to-remove siding are all viable home storage locations. Then again, it really depends on what your goals are. If you want to hide money so well that no one will find it, get some custom furniture with places to hide cash that can be built around the cash, so the couch (or table, sometimes) must be physically destroyed to access it.

    Most people who store lots of cash tend to be stupid about it. They place it in a location that is difficult for them to get to, say, under some boxes, or in the back of the closet. Thing is, someone who wants that cash couldn't care less about what they destroy in the process to get it.

    /tinfoil hat on/ Ideally, to hide large sums of cash in your home, you need to determine what percent must be easily accessible, accessible, and largely inaccessible. Easily accessible means that it takes you less than a minute to get to it. A 500 count jar of advil is a great place to store a roll of cash, and then pour the pills back over it. (Also have some underneath). Food containers also work well for this (Cereal, milk jug, etc).

    For accessible, but not easily so, you have more options. Generally, this category can fall into "Things with screws." As previously mentioned, a CRT monitor or VHS player with removable back/side/bottom works wonders for hiding things. My favorite was a radio receiver from 1980 that went with some other stereo equipment. It had 6 screws on the bottom, and there was a thin space for hiding something flat between it and the circuit board. The panel was slightly smaller than the gap, too, so you could see the circuit board 1cm away, but the panel was big enough to hide any cash. Another great place is to take your door off the wall, remove the hinges (from the wall) and drill into that area. It is easy cut in deep enough to store something. Lastly, most light switches or wall outlets have a small gap in the wall, which is perfect for storing a roll. Oh, and also, a favorite: Get 2 fairly large cuts of prewrapped meat at the supermarket, and unwrap them. Throw 1 away, and keep the white bottom tray. Put some cash between that tray and the other one (with the meat on it) and then press the edges together, put the meat back on top, and then wrap it really tightly (even better to reuse the wrap it came with) and then throw it in the freezer.

    /tinfoil hat off

  • Re:No app for that? (Score:3, Informative)

    by Haffner (1349071) on Wednesday August 25, 2010 @01:21PM (#33371144)
    My recommendations are more apt at hiding it from thieves than from government. The way you hide it from government is renting a place for cash with your name not on the lease, only walking or biking there starting from a public location, and returning to a public location (before going back home) and NEVER carrying any electronic device with you. Renting a garage works perfectly for this.
  • Re:Mattress! (Score:3, Informative)

    by Beardo the Bearded (321478) on Wednesday August 25, 2010 @01:28PM (#33371276)

    There's money in the banana stand.

  • by Graff (532189) on Wednesday August 25, 2010 @01:48PM (#33371582)

    Then after realizing it was all coming from Taiwan and China I thought "Invented in America, Made in China" but I still imagined this premium I was paying lead to good American ethics and proper treatment of employees to consumers. The deaths of nine or more plastics workers in Apple's iPhone supplier followed by a million in kickbacks being stored in shoe boxes by a corrupt Apple Manager and suddenly I realize that buying Apple just means you're paying a premium on something that might provide you a better experience but really employs all the same corruption inherent in almost any very large business.

    Did you know that the rate of those suicides was significantly less than the rate for China overall? So working for Apple actually DECREASES the suicide rate, who'd have thought!

    Here's an article [labornotes.org] on the subject. In it we learn that Foxconn employs over 1/2 million people and have had 12 suicides in the past year. Lets extrapolate that to 24 in a calendar year, the article wasn't specific on what they meant by this year, that's a rate of less than 1 for every 2,000 workers. The national average for China is 12 for every 1,000 people - approximately 25 times higher for all of China when compared to Foxconn.

    Maybe Apple's investments in Foxconn have lead to "good American ethics and proper treatment of employees" after all...

  • Re:No app for that? (Score:3, Informative)

    by timeOday (582209) on Wednesday August 25, 2010 @03:22PM (#33372610)
    Discontinuing large-denomination notes to combat crime has already been done in the US [pennylicious.com] (see the part about $10,000 bills) and Europe [businessweek.com], at least.
  • Re:Mattress! (Score:3, Informative)

    by Fulcrum of Evil (560260) on Wednesday August 25, 2010 @04:08PM (#33373176)
    No it doesn't. Paper depreciates based on the amount of money (not paper) - most USD is data in a server somewhere. But there's also the balance between currency and wealth - if we had twice as much stuff but the same amount of USD, would the buying power go up or down?

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