According to BusinessInsider, Walter Shimoon, a Primary Global (an expert network) consultant who pled guilty yesterday to charges of insider trading, allegedly gave 4 people secret information about Apple's plans for the iPad and iPhone 4.
A Flextronics employee (Flextronics supplied Apple's cameras), Shimoon knew secrets like what Apple's code word "K48" meant -- big bucks for his hedge fund clients, who would pay him for any information that might tell them how to trade Apple stock.
He didn't know "K48" meant "iPad," yet, but he knew that project "K48" was so secret that anyone at Apple would get fired for saying the word outside of a meeting about K48.
One of Shimoon's hedge fund clients, Kingdom Ridge Capital, a hedge fund founded by former SAC Capital employees Christopher Zepf (worked at SAC from 2002-2007 as a tech portfolio manager) and Brian Thonn (worked as an equity analyst) located in White Plains, New York, allegedly made $560,000 trading Shimoon's secrets in just one month, October 2009….
Read more: http://www.businessinsider.com/insider-trader-walter-shimoons-2-amazing-apple-tips-made-sac-spin-off-fund-kingdom-ridge-capital-560000-in-one-month-2011-7#ixzz1RL00Ii2b
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