Oh, what a tangled web we weave, when we do but first allegedly manipulate stock option grant dates to make more money for ourselves. Or something. Former Apple CFO Fred Anderson and general counsel Nancy Heinen had civil charges brought against them by securities regulators relating to the back-dating of stock options to Apple leaders, including Steve Jobs, almost six years ago.
As you might expect, the cone of silence has officially been broken. Anderson, who settled with the Securities Exchange Commission today, went straight after his former boss Steve Jobs, as well as Heinen, the board of directors, and probably everyone reading this post, according to the San Jose Mercury News:
As for the responsibility for the backdating of an earlier grant in 2001 that was made to Anderson, Heinen and other members of Apple’s executive team, Roth pointed fingers at Jobs, Heinen and Apple’s board. Jobs and Heinen picked the date for that grant – and the board verified it – after Anderson warned Jobs that moving the grant date might result in an accounting change, Roth said.
Roth’s statement marks the first time that anyone has suggested that Jobs had reason to know the accounting implications related to backdating. Although Apple has acknowledged that Jobs knew that backdating was going on at Apple and that he picked some favorable dates, the company said he didn’t commit fraud, because he didn’t know that there were any legal or accounting implications with the practice.
Anderson “was told by Mr. Jobs that the board had given its prior approval (for the grant) and the Board would verify it. Fred relied on these statements by Mr. Jobs and from them concluded the grant was being properly handled,” Roth said in a statement.
Heinen, of course, blames the Board. This is so sordid. If only Fake Steve Jobs could tell us what’s really going on… Oh, here he is!
He didn’t settle. He flipped. They played him and Nancy Heinen off each other. Made them both an offer. Nancy, being a lawyer, figured she’d be cute and reject the first offer and bump them to something better. Instead, Fred rolled. And now Nancy is going to trial. I just mailed her a pamphlet that shows you how to make a shiv out of a bar of soap.
All this stuff about how the Jobsmeister is off the hook? Fuggedaboutit. Fred is the Big Pussy Bonpensiero of the Apple crime family. He’s betrayed us. Note to Fred: I’d stay away from boats if I were you.
Zing!
Technorati Tags: back-dating, fake steve, fred anderson, steve jobs, Steve Jobs
