Sources have informed The Financial Times of London that the forged documents at the center of the ongoing SEC investigation relate to illegal activities surrounding options given to Steven Jobs. According to the FT story, Jobs "was handed 7.5m stock options in 2001 without the required authorization from the company's board of directors." and that "Records that purported to show a full board meeting had taken place to approve Mr Jobs' remuneration, as required by Apple's procedures, were later falsified."
If this is in fact the case, it certainly makes sense that Jobs would seek his own external legal counsel both to more closely protect his personal interests as well as put some distance between himself and the company as a whole.
Update: The FT article makes no mention of wrong doing by Jobs himself, and as such this post has been updated.
[via Cult of Mac]