Gene Levoff, a former senior director of corporate law at Apple, has been ordered to pay a hefty fine of $1.15 million to the U.S. Securities and Exchange Commission (SEC) for engaging in insider trading, according to a Reuters report. This comes after Levoff narrowly avoided prison time late last year when he was sentenced to four years of probation and an unspecified fine.

The judge presiding over the case, U.S. District Judge William Martini in Newark, New Jersey, highlighted the severity of Levoff’s actions despite his seemingly modest lifestyle. “While Gene Levoff was not living excessively, his violations were nonetheless especially egregious,” Judge Martini stated, emphasizing the high standards expected from someone in Levoff’s position.

Levoff’s role at Apple involved ensuring employees adhered to the company’s insider trading policies. This blatant misuse of his privileged access to confidential information is particularly concerning. Levoff reportedly used this access to gain an unfair advantage in the stock market. He strategically bought and sold Apple shares based on non-public knowledge about the company’s upcoming earnings reports.

Levoff’s illicit activities generated an estimated $277,000 in profits and prevented potential losses of around $377,000. For instance, in July 2015, Levoff, aware that Apple wouldn’t meet projected iPhone sales for the third quarter, unloaded $10 million worth of Apple stock just days before the official earnings announcement, which sent the stock price plummeting over four percent.

Levoff’s tenure at Apple lasted from 2011 to 2018, but the insider trading violations occurred between 2011 and 2016. Apple fired Levoff in September 2018 after authorities contacted the company regarding his suspicious trading activities. In June 2022, Levoff pleaded guilty to six counts of securities fraud related to insider trading.

Federal prosecutors sought jail time for Levoff, aiming to set a strong precedent and deter other corporate executives from engaging in similar activities. However, the judge ruled that Levoff’s dismissal from Apple and the consequent loss of his ability to practice law were sufficient punishment.