Apple (AAPL  ) is facing new allegations from the SEC that Gene Levoff, former senior director of corporate law and corporate secretary, engaged in insider trading.

In an official lawsuit, the SEC stated: "Levoff breached his duty of confidentiality to Apple and its shareholders and exploited corporate information for his own benefit. Through his illegal insider trading in 2015-2016, Levoff profited and avoid losses of approximately $382,000." The lawsuit provides significant detail about and justification for the charges against Levoff, stating that he knew or was reckless in not knowing that his behavior violated his duties to Apple and its shareholders.

Given that Levoff was exposed to highly confidential and sensitive information regarding Apple's finances, the allegations against him are serious and raise further questions regarding how Apple protects its nonpublic information. If the figurehead of Apple's compliance team misused such private information, it may be an indicator of further cracks down the team.

Apple promptly fired Levoff after being made aware of his misgivings by external authorities. The fact remains however, that Apple was unable to detect the internal discrepancies without help from third-party investigators, casting doubt on its supposedly robust compliance regulations.

"After being contacted by authorities last summer we conducted a thorough investigation with the help of outside legal experts, which resulted in termination," Apple said in a statement Wednesday.

Levoff's attorney, Kevin Marino, issued a statement in response to the allegations saying, "We are in the process of reviewing the civil and criminal allegations against him and look forward to defending him with respect to those allegations."