Judge Okays Tax Probe Settlement With Head Of Apple's Irish Unit

[HardOCP News]

What happened to all that "we pay every tax we are supposed to" bullcrap Tim Cook has been spewing for months? Now all the sudden they are taking a deal for a six month jail sentence for one of the managers (that is NOT an admission of guilt) that has conveniently been converted to a cash fine.

A Milan judge has accepted a settlement agreement with the head of Apple's Irish-based unit Apple Sales International as part of a probe into allegations the U.S. tech giant failed to pay corporate taxes in Italy to the tune of 879 million euros ($959.43 million), a judicial source said. Under the settlement agreement, a six-month jail sentence for the executive has been converted into the payment of a 45,000 euro ($49,126) fine, the source said. Under Italian law, a settlement agreement does not imply an admission of guilt.

 

[evilsofa]

$49,126 < $959,000,000

 

[SLee]

$49,126 < $959,000,000

From the way I read the article, the executive was to be jailed in addition to the fine. This settlement just allows the executive to pay a fine to get out of jail, but doesn't affect the status of the fine on Apple.

Perhaps in exchange for this seemingly generous settlement, the Italian government's able to get the exec to snitch on Apple.

 

[evilsofa]

You read the article? No, no, you're not supposed to do that or we won't have the hilarious misunderstandings that make the threads go kaboom!