Apple has called the police over someone selling a lost iPhone they found to Gizmodo for $5000. As of right now, Gizmodo has not commented about Apple contacting the local authorities. Also apparently Gizmodo has not returned the iPhone yet either according to sources. Local authorities said they are looking into the matter but did not comment if they are going after the anonymous seller or the buyer, Gizmodo.
Did this guy that sold the iPhone to Gizmodo for $5000 really think he could get away with it? And did Gizmodo think they could buy stolen property? Which yes its technically stolen property if they are buying property that they know does not belong to the person selling it and that the seller does not have permission to sell it on Apples behalf.
Under California law any person who finds lost property and knows who the owner is likely to be but “appropriates such property to his own use” is guilty of theft. If the value of the property exceeds $400, more serious charges of grand theft can be filed. In addition, a second state law says that any person who knowingly receives property that has been obtained illegally can be imprisoned for up to one year. I look forward to hearing what Gizmodo responds with.