Former Apple procurement manager Paul Devine appeared in San Jose Federal Court on Monday and pleaded guilty to fraud, as well as money laundering and conspiracy. Devine sold the company’s secrets to the company’s suppliers and distributors while still an employee, causing Apple a $2.4 million loss. Information he sold included the development of new products, including specs and estimated prices. Once Apple began speculating that information was being leaked, it launched an in-house probe, which led to Devine.

Devine has since agreed to pay $2.25 million to Apple in damages. He could also earn jail time, with a maximum sentence of twenty years per charge. Nevertheless, observers agree that he will most likely receive a reduced sentence, in accordance with federal guidelines.

Read More at the Financial Times.