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Trader Pleads Guilty To Illegal Purchase of Nearly $1B In Apple Stock

April 16th, 2013, 23:51 Posted By: wraggster

A trader who last year made an unauthorized purchase of nearly US$1 billion worth of Apple stock has pled guilty to wire fraud, securities fraud and conspiracy. On October 25, 2012 — the same day Apple posted its Q3 2012 earnings — David Miller of Rochdale Securities made a number of unauthorized purchases of Apple shares which ultimately led to the demise of the financial services firm he worked for. The aim of Miller's action was to make a lot of money very quickly by purchasing large quantities of Apple shares and selling them in a post-earnings surge.

http://apple.slashdot.org/story/13/0...in-apple-stock

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Trader Pleads Guilty To Illegal Purchase of Nearly $1B In Apple Stock

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