International blabbed: Apple insider has to pay fine

Walter Shimoon comes off lightly: As a former employee of an Apple supplier, he has pre-sold secrets to innovations such as the iPad and iPhone to punters. For this he must now pay 46,000 euros.

The employees of an Apple component supplier, the company had revealed secret plans to stock traders, comes around to a prison sentence. Instead, Walter Shimoon only have to pay 46,000 dollars because he has cooperated with the authorities in uncovering a whole insider ring. Similar to probation for two years, he must meet additional requirements. The judgment was delivered on Monday in New York.

Together with Shimoon Mark Anthony Longoria was also sentenced to two years under special observation and to pay good $ 170,000, as the New York Attorney General announced. The 46-year-old had the chip manufacturer AMD worked and abandoned its plans for money. He also later worked with the authorities in uncovering the insider ring.Shimoon had confessed his actions two years ago. The now 41-year-old worked at Apple supplier Flextronics and therefore had insight into upcoming products - just trying to keep the Apple secret as long as possible.His knowledge Shimoon sold on to punters. How did this early stage that the iPhone 4 has a second camera for video calls, or that Apple developed a kind of reader - which is later than the iPadturned out.

A so-called expert network had both transferred to speculators who used the knowledge for their coveted stock exchange transactions and imports huge wins. Such insider trading is banned because it discriminated against other investors. The brains behind the network of experts had been sentenced to several years in prison, thanks to the statements of Shimoon and Longoria.

Credits: spiegel online