Former Flextronics Executive Pleads Guilty to Selling Apple Insider Information

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Walter Shimoon, a former executive at Apple supplier Flextronics, has pleaded guilty to charges of conspiracy to commit wire fraud and security fraud. According to reports, Shimoon allegedly leaked details about Apple's plans for unreleased products, such as the iPhone and the (unreleased at the time) iPad to hedge fund traders. According to the New York Times, Shimoon is the 12th person to submit a guilty plea. Flextronics manufactured iPhone chargers and therefore had some insider information.

Shimoon was also accused of leaking sales forecasts and figures for Apple's iPhones and iPods for the third and fourth quarters of 2009. Beyond that, were leaks about Apple's new iPhone plans. During that same call, according to a transcript from prosecutors, he leaked details on the iPad, which was then known as the K84:

"It‚Äö√Ñ√¥s a new category altogether. I believe it‚Äö√Ñ√¥s called K48 … At Apple, you can get fired for saying K48 … outside of a meeting that doesn‚Äö√Ñ√¥t have K48 people in it. That‚Äö√Ñ√¥s how crazy they are about it,"

According to the Ottawa Citizen, he could face up to 30 years in prison. 

[Via NYTimes]

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