A man who worked at Singapore-based technology outfit Flextronics International has admitted passing on information he received about Apple and other companies as part of an insider-trading circle.
Thirty-nine year-old Walter Shimoon, from San Diego, pleaded guilty in Manhattan federal court to conspiracy and securities fraud charges.
Shimoon was arrested in December 2010 along with AMD worker, Mark Anthony Longoria; a former account manager at Taiwan Semiconductor Manufacturing Co., Manosha Karunatilaka , and James Fleishman who worked at Primary Global. Longoria and Karunatilaka have already admitted their part in the insider trading network pleaded guilty. Fleishman is still facing his trial on two counts of conspiracy.
Shimoon leaked details of Apple's iPad and iPhone 4 before the devices were launched, earning around $27,500 from Primary Global Research for his trouble. He could be locked up for up to 30 years when sentenced.