Corporate Espionage & Insider Trading: Apple iPad & iPhone Secrets LeakAs US government agencies and the Securities Exchange Commission continue to investigate claims of leaked confidential information and insider trading in tech companies such as Apple and AMD, US officials have arrested four more individuals.
Corporate espionage and insider trading
Manosha Karunatilaka (Taiwan Semiconductor Manufacturing Co Ltd), Walter Shimoon (VP of Business Development at Flextronics), Mark Longoria (supply chain manager at AMD) and James Fleishman (sales manager at an “expert networking” firm), have all been charged for insider trading and other corporate crimes.
The men are believed to have leaked corporate secrets about the tech companies to two hedge funds. Furthermore the charges suggest that Shimoon received money for leaking information surrounding the iPad and iPhone 4 ahead of Apple.
“Today’s charges allege that a corrupt network of insiders at some of the world’s leading technology companies served as so-called ‘consultants’ who sold out their employers by stealing and then peddling their valuable inside information,” Manhattan U.S. Attorney Preet Bharara said in a statement.
“Over the next many months and beyond, we will continue to enforce the law, police the market, and protect honest businesses and their shareholders by working methodically with the FBI and SEC to root out corporate corruption and insider trading." - Reuters
