Steve Jobs was on top of the world early this week as he debuted the new iPhone and Apple TV in front of a crowd of adoring Mac fans. However the end of the week brings a post party hangover as new questions arise in the Apple Stock Options Back Dating Debacle.

It appears that investigators are focusing on shares granted to Jobs in October of 2001 that were later back dated causing the options’ value to raise to $20 million. The SEC (Securities and Exchange Commission) along with California prosecutors are looking into the legality of the accounting maneuver.

According to The Recorder, it appears that a cover up was under way at Apple. A young lawyer named Wendy Howell had created bogus papers to cover up the back dating changes. Howell was fired but she claims she was following directions from her boss, Apple general Counsel Nancy Heinen.

In a moved that surprises no one, Heinen said that her orders came from higher up the food chain at Apple. Fred Anderson, former CFO for Apple, quit in October because of the scandal.

Apple Share price hit a record high of $97.80 this week because of the announcements of the iPhone and the Apple TV.

Speculation runs rampant regarding what would become of Apple if Mr. Jobs became a target of a corporate scandal. Could Apple survive with Jobs and his Reality Distortion Field? Since Jobs came back to the company in 1997 the stock has risen from $10 to just short of $100. That’s pretty good progress in 10 years. Would an Apple without Jobs be able to sustain that sort of growth, let alone keep its market share?