Securities: Jobs Likely Will Avoid Criminal Charges in Options Probe

It appears that criminal charges against Steve Jobs, the CEO of Apple, are unlikely. Apple has been under investigation over backdating charges for several months now. An examination of the 2001 stock-options grant to Jobs that was backdated using faked documentation shows little, if any, evidence to support charges against Jobs. Although Apple says that Jobs approved backdating at Apple, there is no evidence that he asked his own grant be backdated or tried to cover it up afterward. Consequently, federal investigators likely do not have a case against him.

Apple's Steve Jobs Likely to Avoid Criminal Charges in Options Probe

The decision not to indict Jobs would be very important for Apple and its shareholders; there was concern that Jobs might lose his spot as CEO over the scandal. "When you start thinking about lying, cheating and stealing, there's a mental state that you know what you're doing is wrong," said Jeffrey Bornstein, who is a former federal prosecutor in San Fransisco and who was involved in the Apple case. The Securities and Exchange Commission still can punish or fine Jobs, but has not yet notified Jobs of any civil charges against him.