An former executive of an Apple supplier pleaded guilty to leaking Apple secrets.
Walter Shimoon, who once worked at electronic manufacturer Flextronics a supplier of camera parts to Apple, was arrested in 2010 for spilling the beans on actual and forecast sales figures for iPhones and iPods in the third and fourth quarters of 2009.
He’s the 12th person to plead guilty so far in a government investigation of insider trading.
Shimoon pleaded guilty to two counts of conspiracy to commit wire fraud and a count of security fraud. The NYT reports, however, that he won’t be sentenced for these crimes until July 2013.
Shimoon’s loose-lipped convos also included some mention of the iPad, then known in secret code as K48.
“So, you can get, at Apple you can get fired for saying K48…outside of a, you know, outside of a meeting that doesn’t have K48 people in it,” he told a cooperating witness, according to taped calls. “That’s how crazy they are about it.”
Via NYT Dealbook