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(Reuters) - The former top corporate lawyer at Apple Inc was criminally charged by the U.S. Department of Justice on Wednesday with insider trading ahead of six of the iPhone maker’s quarterly earnings announcements. Authorities said Gene Levoff exploited his positions as corporate secretary, head of corporate law and co-chairman of a committee that reviewed draft copies of Apple’s financial results to trade illegally between 2011 and 2016. Prosecutors said Levoff, 45, of San Carlos, California, generated $604,000 in illegal gains, including realized profit and avoided losses, before Apple terminated his decade-long employment in September.

Levoff faces one count of securities fraud, carrying a maximum 20-year prison term and a $5 million fine, He is expected cufflinks nordstrom to appear on Feb, 20 in a federal court in Newark, New Jersey, The U.S, Securities and Exchange Commission filed related civil charges in the case, one of the rare instances of a senior lawyer at a major U.S, company being implicated in a crime, “Levoff’s alleged exploitation of his access to Apple’s financial information was particularly egregious given his responsibility for implementing the company’s insider trading compliance policy,” Antonia Chion, associate director of the SEC’s enforcement division, said in a statement..

Kevin Marino, a lawyer for Levoff, said he was reviewing the allegations and looked forward to defending his client. “Gene Levoff was a highly regarded Apple executive for many years, and has never before been accused of wrongdoing,” Marino said in an email. Apple said in a statement it had terminated Levoff after an internal probe, and that it trains employees about their legal obligations. Authorities said Levoff reported to Apple’s general counsel and has been a corporate officer of every major subsidiary of the Cupertino, California-based company.

As co-chairman of Apple’s disclosure committee, Levoff helped Chief Executive Officer Tim Cook and his predecessor, Steve Jobs, ensure the timeliness, accuracy and proper oversight of company disclosures, including financial results, according to authorities, Despite this, prosecutors said Levoff bought and sold more than $14 million of Apple stock, including $10 million in July 2015 alone, after being given draft earnings materials but before the results were made public, Authorities said Levoff cufflinks nordstrom knew or should have known he was breaking the law, citing a February 2011 email where he warned employees not to trade on material nonpublic information..

ORLANDO, Fla. (Reuters) - The U.S. Department of Agriculture’s deputy secretary said on Wednesday he is “hopeful” the administration will complete its rule allowing year-round sales of a higher ethanol blend of gasoline by summer, but the government should use “discretionary enforcement” of the summertime ban if there is a delay. “I see this as a fallback plan in the event we don’t make the deadline,” the deputy secretary, Stephen Censky, said at a biofuels conference in Florida.

The higher ethanol blend, known as E15, contains 15 percent ethanol versus the 10 percent found in most U.S, gasoline, It is currently banned for sale during the summer over cufflinks nordstrom concerns it contributes to smog in warm temperatures, President Donald Trump announced in October he was directing the Environmental Protection Agency to allow year-round sales of E15, in a win for the powerful corn industry which supplies ethanol, Although there are concerns that E15 contributes to smog in warm temperatures, recent studies have shown it may not perform much differently than E10 blends in that regard..

The Environmental Protection Agency has said it is confident that it can complete its rule allowing year-round E15 sales by this summer, but the recent partial government shutdown has raised concerns of a time squeeze because agency workers were furloughed for weeks. Censky said at the conference that he blamed the potential for a delay to the E15 rule on the shutdown. If the rule is delayed, it would be up to the EPA to decide how to enforce the summer E15 ban, he said. There has been bipartisan concern on Capitol Hill over the timing of the rule. Democrat Senator Richard Durbin, in a letter to the EPA’s acting administrator, Andrew Wheeler, warned that failure to complete the rule by summer would only add to the uncertainty of the agriculture community, which has already been hurt by U.S. trade tariffs.

“I urge you to publicly commit to completing this rule before June, and I urge you to outline the steps EPA will take to ensure the E15 rule will be finished by that time,” said Durbin, who is from the farm-intensive state of Illinois, On Tuesday, Bill Wehrum, who is in charge of the EPA department tasked with preparing the E15 rule, told Reuters that the cufflinks nordstrom agency was moving in a “very expeditious” way in drafting the rule and that it was aiming for a 45-day public comment period after release..