“Pulliam reported Motley–-previously identified only as ‘cooperating witness 2’in a court filing–made more than 60 phone calls to help the government in its widening investigation,” Ovide reports. “The legal complaint last week showed how much the feds relied on Motey to nab expert-network official James Fleishman, and to elicit recorded secrets about Marvell, Apple and AMD, among other technology companies.”
Ovide reports, “Motey now runs a research firm called Coda Group, a small California firm that offers research services about technology companies. As an analyst at Wachovia and other firms, Motey covered the semiconductor industry, including Conexant, Broadcom, Vitesse Seminconductor and Marvell–one of the companies for which he arranged sting phone conversations as part of the insider-trading case.”
Read more in the full article here.
Adam Satariano reports for Bloomberg, “Walter Shimoon was one of a select few who get a peek behind the veil Apple Inc. cinches tightly around its products.”
“His alleged attempt to profit illegally from that privilege caught up with Shimoon last week, when the former manager at Apple supplier Flextronics International Ltd. was among three people arrested for supplying inside information to investors,” Satariano reports. “Shimoon, 39, was paid more than $22,000 to share non-public sales forecasts and other information about future products, including the iPad, according to the criminal complaint.”
Satariano reports, “His arrest underscores the difficulty faced by Apple Chief Executive Officer Steve Jobs, who runs the world’s most valuable technology company, in keeping multibillion-dollar products under wraps, said Charlie Wolf, an analyst at Needham & Co.”
Full article here.
given you can make so much cash just by buying and holding APPL.. what a fucking doofus.
“Meanwhile, Shimoon would also warn his colleagues and Apple employees about the sensitive nature of the information.”
Shimoon probably thought he was being pretty cagey by communicating the ol’, “Don’t do this!”, while he did it.
Instead, Shimoon has clearly shown prosecutors that he knew the consequences and illegality of his actions, while he was performing these very actions.
Wow, he could not have made his prosecution any easier for the Feds.
@shinolashow
I think he would have gotten in as much trouble buying and holding AAPL based on that knowledge. The “doofus” factor kicks in because you can profit more than $22k by legitimately using that privileged position in the marketplace. It just take more work. Excellence always does.
Unfortunately, there’s always people willing to take shortcuts to “success” instead of doing the work. Which means that there will always be good examples of doofuses to remind us all that there’s no substitute for working hard and maintaining our integrity in the process.
Anyone wonder why no word yet on Gizmodo’s shenanigans?