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“If you don’t appreciate that, it’s very difficult for the government to show that you’re a criminal.” The SEC could still punish or fine Jobs.But the agency has not notified Jobs of plans to bring civil charges against him, according to a lawyer familiar with the SEC probe.A Mercury News examination of a massive 2001 stock-options grant to Jobs that was backdated through bogus documentation – the central focus of the federal probe – shows there is scant evidence, if any, to support criminal charges against the Silicon Valley icon.Despite Apple’s disclosure that Jobs approved widespread backdating at Apple, there is no evidence he directed the backdating of his own grant or covered it up afterward, based on a review of regulatory filings and interviews with lawyers intimately familiar with the grant who asked not to be identified.While Mc Kelvey himself didn’t receive backdated options, the SEC said he benefited from the scheme by giving the options to four people that he employed personally, including three pilots and a mechanic.The SEC said that the misstatements resulted in Monster overstating its pretax earnings by 9.5 million in the fiscal years 1997 through 2005.But it was a star-studded board of directors that approved the favorable grant date – not Jobs – to end a tough negotiation to compensate him for his leadership.

Under Monster’s settlement with Mc Kelvey, he will pay the company million and also convert the 4.76 million shares of supervoting stock he controls into ordinary shares, reducing his voting power in the company from 31 percent to 7.4 percent.The SEC settlement calls for him to pay a separate penalty of 6,000 and bars him from serving as a director or officer of a public company.Mc Kelvey departed Monster in 2006 amid questions about his role in the options backdating scandal. Attorney’s office for the Southern District of New York said in a statement that it reached the settlement with Mc Kelvey, who is 73 years old, in light of the fact that he had a terminal medical condition.An internal investigation released in December found no evidence of wrongdoing by Jobs, but that did not remove the cloud of suspicion over the company’s powerful CEO. From the start, the focus has been Jobs’ 2001 receipt of 7.5 million options that were backdated through minutes of a board of directors meeting that never occurred.But while others involved in the falsified minutes may face consequences, Jobs appears insulated against criminal prosecution and perhaps SEC action.Jobs is also on the board, but did not vote on his own grant.Legal experts and lawyers familiar with the grant say it would be difficult for prosecutors to base a securities fraud case against Jobs since his grant was approved by the board.On Tuesday Monster disclosed in a regulatory filing that Steven Pogorzelski had resigned as executive vice president of global sales and customer development.Months into a federal investigation of stock-option backdating at Apple, prospects for a criminal case against powerhouse CEO Steve Jobs appear dim.NEW YORK – Andrew Mc Kelvey, the founder and former chief executive of Monster Worldwide Inc., will relinquish much of his voting stake in the online job-listings company and pay back more than million as part of a settlement into claims that he improperly backdated stock options to employees.Monster announced its settlement with Mc Kelvey on Wednesday, the same day he settled separate charges over the options-backdating scheme with the Securities and Exchange Commission and federal prosecutors.


  1. PROVIDENCE, R. I. — Steve Jobs was in geek-genius mode as he strode across the dramatically lit San Francisco stage. Wearing his faded jeans and black turtleneck.

  2. NEW YORK – Andrew McKelvey, the founder and former chief executive of Monster Worldwide Inc. will relinquish much of his voting stake in the online job-listings.

  3. SEC Deposition Shows Softer Side of Jobs Before the concerns about Steve Jobs's health were paramount, another potential problem was suspended above the Apple CEO's.

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