From the NY Post: David Miller, the rogue Rochdale Securities trader whose $1 billion unauthorized Apple trade led to the firm’s collapse, pleaded guilty to conspiracy and fraud yesterday. Miller, 40, entered his guilty plea before US Magistrate Judge Donna Martinez in
He faces up to 25 years in prison when he is sentenced July 8. Hartford, Conn.
Miller, who lives in
1.625 million shares of Apple ahead of its quarterly report last October, but
lied and told the firm he was buying just 1,625 shares on a behalf of a client. Rockville
The bad bet saddled
with $5.2 million in losses, forcing it out of business.
Miller will also be barred from working in the securities industry as part of a settlement with the Securities and Exchange Commission…